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- Title
Budgeting in Greece.
- Authors
Moretti, Delphine; Keller, Anne; Chevauchez, Benoit
- Abstract
The 2018 Budget Review of Greece follows an initial review of Greece's budgeting framework conducted in 2008, prior to the financial and fiscal crises. This Budget Review finds that considerable progress was achieved during the last 10 years in almost all areas covered by the OECD Recommendation of the Council on Budgetary Governance. Some important reforms however, are ongoing and their outcomes cannot yet be assessed meaningfully during this review. One of the most significant changes to the Greek budget system compared to 2008 is the move to medium-term planning and top-down budgeting, highlighting the Government's commitment to fiscal prudency and discipline. Concerning future budgetary reforms, this Budget Review advises that priority be given to improving expenditure prioritisation and effectiveness, through the use of spending reviews and the introduction of performance budgeting. This Budget Review also notes that, although the fiscal policy framework has shown itself to be quite effective in recent years, new challenges may emerge in the future and the Government should place greater emphasis, going forward, into identifying and mitigating potential fiscal risks.
- Subjects
GREECE; ORGANISATION for Economic Co-operation &; Development; FISCAL policy; FINANCIAL crises; BUDGET; BUDGET reform
- Publication
OECD Journal on Budgeting, 2019, Vol 19, Issue 2, p3
- ISSN
1608-7143
- Publication type
Article