scholarly journals Irregular Receipts Leading to Budget Deficits in Kosovo

2018 ◽  
Vol 6 (1) ◽  
pp. 100-115
Author(s):  
Lutfi Zharku
Keyword(s):  
Public Debt ◽  
Budget Deficit ◽  
Fiscal Rules ◽  
Primary Data ◽  
Extensive Literature ◽  
Budget Deficits ◽  
Infrastructure Projects ◽  
Financial Reports ◽  
Social Transfers ◽  
The Government

Abstract The aim of the paper is to analyse the irregular budget receipts, their behaviour and impact on budget deficits in Kosovo. Since its independence, Kosovo has been engaging in large infrastructure projects based mainly on initially high cash balances and overestimation of revenue capacity, in particular of irregular receipts. This led to the creation of future liabilities and budget deficits, which had to be financed by public debt. Further, the politically motivated increase of wage and salary bill and social transfers increased the burden on budget deficit already caused by infrastructure projects. Thus, budget deficits became the lasting feature of Kosovo economy. All this was supported by a lack of legal infrastructure or fiscal rules for several years. There is extensive literature on the causes of budget deficit, its definition and measurement. The literature review method is adopted in the present study, and research is refined by including selected papers that contain empirical and theoretical studies on budget deficit. Therefore, special-purpose deficit, the so-called “regular” budget deficit, which considers only regular receipts and outlays, has been defined and measured in the present study. This analysis leads to the conclusion that irregular receipts used by the government to engage in large infrastructure projects and/or the politically motivated increase of wage and salary bill and social transfers lead to a budget deficit that has to be financed through public debt. This is a case study of Kosovo and research has been carried out using primary data drawn from Kosovo budget annual financial reports. The implications of the paper may be of high importance for policymakers as well as for academic issues. This is a unique approach to the issues of Kosovo budget deficit and irregular receipts.

scholarly journals Chile Fiscal Policy Management

2013 ◽  
Vol 16 (2) ◽  
pp. 45-62
Author(s):  
Ryszard Piasecki ◽  
Erico Wulf Betancourt
Keyword(s):  
Fiscal Policy ◽  
Public Debt ◽  
Budget Deficit ◽  
Budget Deficits ◽  
Policy Management ◽  
Total Revenue ◽  
The Public ◽  
The Government ◽  
Budget Surplus

A budget surplus arises in a country when the total revenue earnings surpass expenditures in a particular financial year. Having a budget surplus is very important in the sense that it brings about a decrease in the net public debt, while the public debt is increased in the event of a budget deficit. Both budget deficits and budget surpluses also exert indirect influences on taxpayers. Normally, it is not essential on the part of the government to maintain a budget surplus, though it needs to be very careful when running a budget deficit to have the proper buffer.  

Determinants of Budget Deficit in Nigeria

2021 ◽  
Vol 6 (1) ◽  
pp. 1
Author(s):  
Maimuna M Shehu ◽  
Ibrahim M Adamu
Keyword(s):  
Budget Deficit ◽  
Budget Deficits ◽  
Cointegrating Vector ◽  
Long Run ◽  
Johansen Cointegration ◽  
Short Run ◽  
Johansen Cointegration Test ◽  
The Government ◽  
One Year ◽  
High Level

This paper investigates the factors governing the determination of budget deficit in Nigeria from 1981q1 through 2016q4. Our methodology is based on Johansen cointegration and Vector Error Correction model (VECM) approach. The result from the Johansen cointegration test suggests one cointegrating vector, which indicates the existence of a long run cointegrating relationship. Evidence from the long run and short run parameters suggest that exchange rate, interest rate and one year lag of budget deficit are the major determinants of budget deficit. Therefore, to achieve a realistic fiscal surplus, the government should determine a high level of accountability in its fiscal operations. In addition, any fiscal surplus should be channeled into productive investments to diversify the economy and reduce the likelihood of potential budget deficits.

ՀՀ տնտեսության պարտքային անվտանգության խնդիրները Արցախյան պատերազմի համատեքստում

2021 ◽  
pp. 181-188
Author(s):  
Ani Grigoryan
Keyword(s):  
Public Debt ◽  
Budget Deficit ◽  
External Debt ◽  
Military Operations ◽  
Economic Problems ◽  
Political Situation ◽  
Debt Burden ◽  
Military Expenditures ◽  
The Republic ◽  
The Government

The 2020 began with the Coronavirus crisis and ended with the Artsakh war, causing both financial and human losses. An extremely difficult economic and political situation was created for the Republic of Armenia. The volume of military expenditures, which is expenditure priority due to military operations, has increased by about 40 billion drams in the current year. The epidemic restrictions reduced tax revenues by about 113 billion drams. The purpose of this article is to reveal the challenges that Armenia has been facing, due to the epidemic and the Artsakh war, substantiating the approach, that the above-mentioned instabilities will inevitably lead to a violation of the logic of the planned economic growth. During the research, the indicators of the government debt-to-GDP ratio of different years were calculated by the method of quantitative analysis, which show the amount of the debt burden. As a result of the research we came to the conclusion that the economic problems will lead to an increase in the budget deficit. And the lack of the resources to finance the latter will make it inevitable for the Republic of Armenia to attract new external public debt, which will increase the already heavy external public debt burden of the RA. Considering the above-mentioned issues as a priority, this article aims to study the dynamics of the external debt obligations of the RA economy during the difficult economic and political period for the Republic of Armenia.

A Comparative Study of the Central Administration Budget Preparation Process in Turkey and Sweden

2017 ◽  
pp. 1-14
Author(s):  
Fatma Turna ◽  
Nihan Kurtulmaz ◽  
Burak Kozali
Keyword(s):  
Public Sector ◽  
Comparative Study ◽  
Budget Deficit ◽  
Budget Process ◽  
Preparation Process ◽  
Budget Deficits ◽  
Central Administration ◽  
The Government ◽  
Budget Surplus

Sweden was one of the countries among the OECD states yielding maximum budget surplus at the end of 1980s and became one of the countries yielding maximum budget deficits in the first years of the 1990s. The budget deficit almost doubled in five years. During that period, the government decided the most important reason of the budget deficits was the budget process itself and commenced studies to reform the budget process and enhance its consistency and reliability. Basic steps were taken to grant budget surplus for whole public sector, to set an allowance cap for whole public sector and create equivalent budget structure for all municipalities and a series of studies were conducted. In this study, the stage of the budget preparation process in Turkey and Sweden will be reviewed and compared to the budget preparation process in Sweden with the budget preparation process in Turkey.

scholarly journals Penerapan Sistem Informasi Manajemen Daerah Keuangan Dalam Pengelolaan Data Keuangan Pada Organisasi Pemerintah Daerah (Studi Kasus Pada BPBD Kabupaten Magelang)

2020 ◽  
Vol 4 (2) ◽  
pp. 175-186
Author(s):  
Herlina Damayanti ◽  
Rian Destiningsih
Keyword(s):  
Financial Statements ◽  
Primary Data ◽  
Data Types ◽  
Financial Reports ◽  
Technological Developments ◽  
Computer Based ◽  
The Government ◽  
Financial Arrangements ◽  
Almost All

Technological developments encourage the government to advance computer-based information systems to make it easier for the government to manage finances. A Regional Management System application called SIMDA was developed. SIMDA Finance is a technology that has been used by almost all regional governments in Indonesia when carrying out the related regional financial arrangements themselves. The purpose of this study is to see how the effect of the implementation of SIMDA Finance on the quality of financial reports in BPBD Magelang Regency. This study analyzes the application of SIMDA Finance in one of the SKPDs of Magelang Regency, namely BPBD of Magelang Regency. This research was conducted with a quantitative approach. The data in the current research are primary data types. The data collection system by distributing questionnaires / questionnaires to some employees in BPBD Kab. Magelang which was held in January-February 2020. The results showed that the variable of SIMDA Financial Implementation influenced the Quality of Financial Statements positively and significantly in the Regional Disaster Management Agency SKPD of Magelang Regency in 2020. With a statistical t value of 2.813843> 1.895 (t table ), which means that the SIMDA Financial variable (X) affects the Quality of Financial Statements (Y).

scholarly journals Vietnam’s future public debt: Prospects and implicantions

2020 ◽  
Vol 4 (3) ◽  
pp. 963-972
Author(s):  
Vi Hoang Dinh
Keyword(s):  
Public Debt ◽  
Budget Deficit ◽  
Dynamic Models ◽  
Current Trend ◽  
Debt Management ◽  
Policy Implications ◽  
Basic Scenario ◽  
Sustainability Of Public Debt ◽  
Public Debt Management ◽  
The Government

By the end of 2017, VietNam's public debt had reached 3.1 million billion VND; 2.2 times higher than the end of 2011 (1,393 million VND). The ratio of public debt/GDP of Vietnam has increased rapidly in recent year, since 2011. Specifically, within only 5 years from 2011 to 2015, the ratio of public debt / GDP of Vietnam increased by 12.2 percentage points, from 50% to 62.2%. Although, the Government of Vietnam has made strong commitments to control public debt. But the actual results are not as expected and tend to get worse. With the current trend of increasing the size and risk of public debt, it is necessary to forecast the public debt and make policy implications on public debt management. Therefore, the author analyzed the state of Vietnam's budget deficit and public debt. Since the author used dynamic models Cechetti, Mohanty and Zampolli (2010) to forecast Vietnam's public debt trends to 2030, with three scenarios: The basic scenario is that there is no improvement in the balance of budget the Basic scenario is no improvement in the basic budget balance, the Bad scenario is the high budget deficit. From there, implications on public debt management that aim to increase the sustainability of public debt in VietNam.

scholarly journals Stewardship Accounting Practice by Government Ministries in Cameroon

2021 ◽  
Vol 10 (3) ◽  
pp. 83
Author(s):  
Samuel Tanjeh Mukah
Keyword(s):  
Statistical Significance ◽  
Ordinary Least Squares ◽  
Primary Data ◽  
Financial Reports ◽  
Budget Planning ◽  
Accounting Practice ◽  
Civil Society Organisations ◽  
Trade Offs ◽  
Budget Control ◽  
The Government

The study examined the practice of stewardship accounting by Government Ministries in Cameroon. It investigated how inclusive budget planning, timely budget execution, stringent budget control, and resolute scrutiny of government financial statements, affect the government stewardship accounting practice. To archive this, primary data collected from members of parliament were analysed, and regressed using the Ordinary Least Squares technique. The empirical results therefrom were of positive and statistical significance. They revealed that stringent budget control, and resolute scrutiny of government financial reports, significantly improve the practice of stewardship accounting in the Government Ministries. It was recommended that the government of Cameroon should frankly facilitate the participation of parliamentarians, civil society organisations, advocacy groups, and the citizens, in the budget preparation and execution processes. Such sincere participation invokes debates on problematic trade-offs and opportunity costs which are crucial in improving the wellbeing of Cameroonians. It was further recommended that parliamentarians should effectively play their role as representatives of the Cameroonian people, not withstanding their political inclinations. Consequently, they will not falter in their responsibility to resolutely scrutinise and authorise the budgets, and hold the Government and its Ministries fully accountable. The last recommendation was that Article 66 of the Cameroon Constitution (lying dormant since 2006) be put into practice. Article 66 provides for the declaration of assets by senior government officials, and others elected or appointed, at the beginning and at the end of their office tenures.

Fiscal risks worsen debt outlook in Argentina

2016 ◽  
Keyword(s):  
Interest Rates ◽  
Public Debt ◽  
Fiscal Rules ◽  
Content Type ◽  
Global Capital ◽  
Fiscal Adjustment ◽  
Financial Conditions ◽  
Export Taxes ◽  
Primary Deficit ◽  
The Government

Significance The lifting of export taxes and the recession have already undermined the government's goal of reducing the fiscal deficit: in 2016 the primary deficit-to-GDP ratio will be even higher than in 2015. However, low public debt-to-GDP ratios and a favourable global environment allowed the government to finance the deficit with new debt. Provinces have also actively tapped global capital markets, postponing fiscal adjustment. Impacts Rising global interest rates would force the government to accelerate unpopular fiscal adjustment. Even if global financial conditions do not worsen, lack of fiscal adjustment will eventually raise doubts about debt sustainability. The government's ability to enforce fiscal rules for provinces will depend on its performance in the 2017 mid-term elections.

Trade Deficit in Nepal: Relationship between Trade Deficit and Budget Deficits

2020 ◽  
Vol 10 ◽  
pp. 95-108
Author(s):  
Khom Raj Karel ◽  
Suman Kharel
Keyword(s):  
Foreign Trade ◽  
Budget Deficit ◽  
Trade Deficit ◽  
Budget Deficits ◽  
Simple Linear Regression ◽  
Huge Amount ◽  
Growth Trend ◽  
Strong Positive Relationship ◽  
The Government ◽  
India And China

Nepal has bitter experiences of trade deficit; it has become the tradition of the country. The trade deficit of Nepal has been widening since the decades. The statistical data shows that around 80 percent of imports are from India and China. The growth trend of foreign trade has been increasing in different years after year with a huge amount of trade deficit. As the size of foreign trade increased the trade deficit of Nepal has-been increasing as well. The government of Nepal has been announcing the deficit budget. This study focused to analyze the trends of trade deficit of Nepal and observing the relations of trade deficit and budget deficit. Simple statistical tools are applied to analyze the trend and growth of foreign trade of Nepal and correlation and simple linear regression model has been used to examine the linkages between trade deficit and budget deficit of Nepal. The study has found a strong positive relationship between trade deficit and budget deficit of Nepal. As result, there is a significant impact of budget deficit on trade deficit. The finding of the regression analysis indicates that budget deficit is a significant predictor of trade deficit.

scholarly journals Do Budget Deficit Crowds Out Private Investment: A Case of Tanzanian Economy

2016 ◽  
Vol 11 (6) ◽  
pp. 183
Author(s):  
Samwel Mwigeka
Keyword(s):  
Budget Deficit ◽  
Private Investment ◽  
Annual Data ◽  
Budget Deficits ◽  
Vector Error Correction ◽  
Study Results ◽  
High Government ◽  
Johansen Cointegration Test ◽  
The Government ◽  
Private Investors

The existing high budget deficit in Tanzanian economy has created an immense concern among economic policy analysts. The study inspects whether budget deficits crowd out or crowd in private investment in Tanzania, using annual data for the period from 1970 to 2012. Using the Johansen cointegration test advocates there is at least one cointegration vector among these variables. Given such condition, the application vector error correction model (VEC) became inevitable as it presents additional and superior information in relation to other data production processes. The results indicate a close long–term connection between private investment, and other variables included in the study. Results suggest that budget deficits considerably crowds out private investment. The study advocates that government should readdress its fiscal policy that would support the private investors. The government should discourage high government expenditures and maintaining a low fiscal deficit also capital market should be used to finance budget deficit.

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