A Growth-Friendly Path for Building Fiscal Buffers in the Caucuses and Central Asia /

Since 2014, large and persistent external shocks have hit the CCA region, particularly a slump in global commodity prices and slower growth in its key economic partners. Fiscal accommodation, along with currency adjustment, has helped the CCA mitigate the impact of the external shocks. However, amid...

Täydet tiedot

Bibliografiset tiedot
Päätekijä: Gemayel, Edward
Muut tekijät: Aylward, James, Ghilardi, Matteo, Ocampos, Lorraine
Aineistotyyppi: Aikakauslehti
Kieli:English
Julkaistu: Washington, D.C. : International Monetary Fund, 2018.
Sarja:Departmental Papers; Departmental Paper ; No. 2018/006
Linkit:Full text available on IMF
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100 1 |a Gemayel, Edward. 
245 1 2 |a A Growth-Friendly Path for Building Fiscal Buffers in the Caucuses and Central Asia /  |c Edward Gemayel, Lorraine Ocampos, Matteo Ghilardi, James Aylward. 
264 1 |a Washington, D.C. :  |b International Monetary Fund,  |c 2018. 
300 |a 1 online resource (55 pages) 
490 1 |a Departmental Papers 
500 |a <strong>Off-Campus Access:</strong> No User ID or Password Required 
500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
506 |a Electronic access restricted to authorized BRAC University faculty, staff and students 
520 3 |a Since 2014, large and persistent external shocks have hit the CCA region, particularly a slump in global commodity prices and slower growth in its key economic partners. Fiscal accommodation, along with currency adjustment, has helped the CCA mitigate the impact of the external shocks. However, amid weakening revenues, increased public spending has widened budget deficits, weakened external balances, and increased public debts. Fiscal policy and strengthening fiscal frameworks must play a central role in helping build buffers and ensuring debt sustainability while supporting growth. This requires (1) tightening fiscal policies to reduce deficits to help restore external balance and fiscal sustainability, (2) strengthening tax systems and tax collection and tilting expenditure toward a more productive and growth-enhancing composition, and (3) implementing public financial management reforms and strengthening fiscal institutions, including through fiscal rules. 
538 |a Mode of access: Internet 
700 1 |a Aylward, James. 
700 1 |a Ghilardi, Matteo. 
700 1 |a Ocampos, Lorraine. 
830 0 |a Departmental Papers; Departmental Paper ;  |v No. 2018/006 
856 4 0 |z Full text available on IMF  |u http://elibrary.imf.org/view/journals/087/2018/006/087.2018.issue-006-en.xml  |z IMF e-Library