IMF Staff Country Reports

Bulgaria: Report on the Observance of Standards and Codes: Fiscal Transparency Module

Publication Date:

August 19, 2005

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This report on the Observance of Standards and Codes on Fiscal Transparency on Bulgaria explains a detailed description of practice. Important areas where Bulgaria meets the code include the consistent use of the consolidated general government as the basis for fiscal policy and reporting; and clear articulation of fiscal targets and rules. The capacity of the Minister of Finance, under the terms of the current organic budget law, to authorize additional discretionary spending in the event of revenue overperformance, is problematic because it reduces fiscal transparency and also accountability to the parliament.

Series:

Country Report No. 2005/300

Subject:

Budget execution and treasury management Budget planning and preparation Budget reporting Expenditure Fiscal law Fiscal policy Public financial management (PFM)