Bulgaria - Public Expenditure Issues and Directions for Reform : A Public Expenditure and Institutional Review
A long period of economic mismanagement
and political instability in the early 1990s, delayed
Bulgaria's transition from planned, to market economy
by nearly a decade, leading to the collapse of
Bulgaria's economy in 1996-97. The introduction of a
Currency Board Arrangement (CBA) in July 1997 and the
subsequent implementation of sound macroeconomic and
structural policies succeeded in restoring growth, abating
inflation and improving public and investors confidence. The
CBA has been underpinned by a conservative fiscal policy and
a sharp acceleration of structural reforms. Budgetary
institutions and processes were overhauled to enhance
transparency and ensure fiscal discipline. The wide-ranging
structural reforms program encompassed liberalization in
agriculture, energy, privatization in the enterprise sector,
as well as reform of the social sector. First generation
reforms, including price and trade liberalization, have
largely been implemented and the privatization/liquidation
program has to a large extent eliminated the
value-subtracting activities. Dominating the country's
reform agenda are now the second-generation reforms, to
complete the transition from planned, to market, in
particular reforms to establish the institutional
foundations. Part I reviews overall public expenditure
level, and discusses the sustainability of fiscal policy
taking into account revenues and expenditure prospects, debt
and growth targets. A fiscal sustainability analysis was
performed with the participation of Bulgarian counterparts,
to integrate fiscal sustainability simulations into the
standard macro-economic analysis underpinning annual
budgets. Functional and economic analysis of expenditure
highlights issues of trade-offs, and priorities across
expenditure categories. Building on the previous section,
Part II assesses the fiscal impact of structural reforms in
health, education, social protection, energy and transport,
and, deepens the dialogue on policy reforms, highlighting
the fiscal implications of alternative options as well as
their social impact. Assessment of poverty within public
expenditures is based on the results of the poverty update.
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Bibliographic Details
| Main Author: |
World Bank |
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| Format: | Public Expenditure Review
biblioteca
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| Language: | English |
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| Published: |
2002-08-31
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| Subjects: | ACCESSION COUNTRIES,
ACCOUNTING,
AUTHORITY,
BALANCE OF PAYMENTS,
BENEFIT INCIDENCE,
BORROWING,
BUDGET EXECUTION,
BUDGET FORMULATION,
BUSINESS ENVIRONMENT,
CIVIL SOCIETY,
CORPORATE INCOME TAX,
COUNCIL OF MINISTERS,
CURRENCY UNIT,
DEBT,
DECISION MAKERS,
DECISION MAKING,
DEFICITS,
DEPENDENCY RATIO,
DEVELOPMENT PARTNERS,
ECONOMIC ANALYSES,
ECONOMIC GROWTH,
ECONOMIC MANAGEMENT,
ECONOMIC MEMORANDUM,
EDUCATION,
EDUCATION LEVEL,
ELECTRICITY,
ETHNIC GROUPS,
EXECUTION,
EXPENDITURE REFORM,
EXTERNAL SHOCKS,
FINANCIAL CONTROL,
FINANCIAL DISCIPLINE,
FINANCIAL MANAGEMENT,
FINANCIAL PERFORMANCE,
FISCAL,
FISCAL BURDEN,
FISCAL DECENTRALIZATION,
FISCAL DEFICIT,
FISCAL DISCIPLINE,
FISCAL MANAGEMENT,
FISCAL POLICY,
FISCAL STANCE,
FISCAL SUSTAINABILITY,
FOREIGN DIRECT INVESTMENT,
FOREIGN EXCHANGE,
FOREIGN INVESTMENT,
GOVERNMENT OFFICIALS,
GOVERNMENT REVENUES,
GOVERNMENT SPENDING,
GROSS DOMESTIC PRODUCT,
GROWTH RATE,
HEALTH,
HEALTH CARE,
HEALTH INDICATORS,
HEALTH INSURANCE,
HEALTH STATUS,
HOSPITALS,
HOUSEHOLD SURVEY,
IMMUNIZATION,
INCOME,
INFLATION,
INTERNATIONAL COMPARISONS,
INVESTMENT CLIMATE,
LABOR MARKET,
LIVING STANDARDS,
LOCAL AUTHORITIES,
LOCAL GOVERNMENT,
MACROECONOMIC MANAGEMENT,
MACROECONOMIC STABILITY,
MANAGERS,
MIGRATION,
MINISTRY OF FINANCE,
MUNICIPALITIES,
OVERALL EXPENDITURE,
PHYSICIANS,
POLICY DIRECTIONS,
POLICY MAKERS,
POLIO,
POPULATION GROWTH,
POPULATION SIZE,
POVERTY ASSESSMENT,
POVERTY GAP,
POVERTY LEVELS,
POVERTY REDUCTION,
POVERTY STATUS,
POVERTY TRENDS,
PRIVATE SECTOR,
PROFESSIONAL TRAINING,
PUBLIC ADMINISTRATION,
PUBLIC EDUCATION,
PUBLIC EXPENDITURE,
PUBLIC EXPENDITURE MANAGEMENT,
PUBLIC EXPENDITURES,
PUBLIC HEALTH,
PUBLIC HEALTH EXPENDITURES,
PUBLIC INFRASTRUCTURE,
PUBLIC INVESTMENT,
PUBLIC SERVICE,
PUBLIC SERVICE OBLIGATION,
PUBLIC WORKS,
PURCHASING POWER,
PURCHASING POWER PARITY,
QUALITY CONTROL,
RATIONALIZATION,
REAL TERMS,
REFORM PROGRAMS,
REPRESENTATIVES,
REVENUE PERFORMANCE,
RURAL AREAS,
SAVINGS,
SCHOOLS,
SOCIAL ASSISTANCE,
SOCIAL INSURANCE,
SOCIAL POLICY,
SOCIAL PROTECTION,
SOCIAL PROTECTION PROGRAMS,
SOCIAL PROTECTION SYSTEM,
SOCIAL SECTORS,
SOCIAL SECURITY,
SOFT BUDGET CONSTRAINTS,
STATE AGENCIES,
STATE-OWNED ENTERPRISES,
STRUCTURAL REFORM,
STRUCTURAL REFORMS,
STRUCTURE OF GOVERNMENT,
TASK TEAM LEADER,
TAX REFORM,
TAXATION,
TREASURY,
UNEMPLOYMENT,
UNEMPLOYMENT BENEFITS,
UNEMPLOYMENT RATE,
URBAN AREAS PUBLIC EXPENDITURES,
TRANSITION ECONOMIES,
POLITICAL CONSTRAINTS,
CURRENCY BOARDS,
MACROECONOMIC POLICY,
STRUCTURAL ADJUSTMENT,
REFORM POLICY,
BUDGETARY PROCESS,
SOCIAL IMPACT,
POVERTY UPDATES, |
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| Online Access: | http://documents.worldbank.org/curated/en/2002/08/1994642/bulgaria-public-expenditure-issues-directions-reform-public-expenditure-institutional-review
http://hdl.handle.net/10986/15373
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