Macroeconomic processes and regional economies management: fiscal reforms in the BRO Countries, 1996-2002
Gershenson, Dmitriy; & Greene, Joshua. (2002). Macroeconomic processes and regional economies management: fiscal reforms in the BRO Countries, 1996-2002. Problems and Perspectives in Management, 1(1), 5-21.
Gershenson, Dmitriy; & Greene, Joshua. (2002). Macroeconomic processes and regional economies management: fiscal reforms in the BRO Countries, 1996-2002. Problems and Perspectives in Management, 1(1), 5-21.
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Most BRO countries – denoting Baltics, Russia, and other countries of the former Soviet Union – have made genuine fiscal adjustments since 1996, with deficits declining notably because of revenue increases and expenditure cuts. Apart from the Baltics, however, only a few countries
appear to have achieved fiscal sustainability. This reflects high levels of
public debt in a number of countries, heavy reliance on petroleum revenues in some others, compressed social spending, and continuing, if diminished, levels of budgetary arrears and quasi-fiscal activities in a few. Many countries also have high poverty rates; and in several, further revenue mobilization will be needed to fund higher social spending as a means of combating poverty.
JOUR
Gershenson, Dmitriy
Greene, Joshua
2002
Problems and Perspectives in Management
1
1
5-21
1129
