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Fiscal Adjustment and Contingent Government Liabilities
Hana Polackova BrixiHafez GhanemRoumeen Islam
其他書名
Case Studies of the Czech Republic and Macedonia
出版World Bank Publications, 1999
URLhttp://books.google.com.hk/books?id=_W9cXXLeJioC&hl=&source=gbs_api
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註釋Governments' contingent liabilities increase fiscal vulnerability, but are omitted in traditional measures of the current deficit. In the Czech Republic this omission may mean that fiscal adjustment has been overstated by 3 to 4 percent of annual GDP, with future budgets having to pay for past guarantees. The stock of existing contingent liabilities in Macedonia could add 2 to 4 percent of GDP to that country's future deficits.