We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
ARE FISCAL CONSOLIDATION AND SUSTAINABLE GROWTH RATES FEASIBLE SIMULTANEOUSLY IN THE REPUBLIC OF MACEDONIA.
- Authors
SPIRKOSKI, Blagoja; DISHLIESKA GRAMATIKOVA, Radica; Popovski, Nikola; Maliqi, Nazmi
- Abstract
The activities of the Government in the area of fiscal policy and public finance management are not always in line with the recommendations of the IMF during the period 2009-2017. Namely, the government has not implemented key recommendations of the last two consultations under Article IV of the IMF, concerning measures for fiscal consolidation. According to IMF projections of 2012, gross financing needs for financing public debt for the period 2013-2016 were on average at 10% of GDP or 800 million to 1 billion euros. However, with the rapid rate of borrowing these Gross financial needs doubled, that amounted for about 20% of GDP or Macedonia needs an amount of approximately 2 billion euros for normal liquidity of public finances. This indicator shows the urgent need without delay to implement fiscal consolidation of public finances in Macedonia. Fiscal consolidation should be based on truly established facts about the level of public debt by the new government, without reducing sustainable growth rates. The dilemma is whether the actual government can simultaneously secure a financial consolidation of the public debt and the realization of the planning sustainable growth rates of the Macedonian economy in the medium term? This article is trying to give the answer to this question.
- Publication
Vizione, 2018, Issue 30, p295
- ISSN
1409-8962
- Publication type
Article