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Working papers from the Economics Department of the OECD that cover the full range of the Department’s work including the economic situation, policy analysis and projections; fiscal policy, public expenditure and taxation; and structural issues including ageing, growth and productivity, migration, environment, human capital, housing, trade and investment, labour markets, regulatory reform, competition, health, and other issues.
The views expressed in these papers are those of the author(s) and do not necessarily reflect those of the OECD or of the governments of its member countries.
Improving the Fiscal Framework to Enhance Growth in an Era of Fiscal Consolidation in Slovakia
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- Caroline Klein1, Robert W.R. Price, Andreas Wörgötter1
- Author Affiliations
- 1: OECD, France
- 29 jan 2013
- Bibliographic information
The challenge for fiscal policy in Slovakia is to achieve fiscal consolidation in a way which supports the fragile recovery and protects spending on areas which are important for re-embarking on a trajectory of high trend growth and underpinning a catch-up in living standards. While the recently established fiscal rules have significantly improved the fiscal framework, a further strengthening in medium-term fiscal discipline will be necessary to avoid pro-cyclical fiscal policy. Raising the effectiveness of tax collection, reforming the tax structure towards less distortive taxes and making more out of available EU funds would also play a helpful role in a growth-friendly fiscal consolidation. Finally, more needs to be done to ensure an adequate prioritisation of spending and an efficient use of public revenues. In particular, stepping up the analytical monitoring, evaluation and assessment capacity in spending ministries should help to rein in wasteful spending. This Working Paper relates to the 2012 OECD Economic Survey of the Slovak Republic (www.oecd.org/eco/surveys/slovakia2012).
- fiscal policy, budgetary framework, tax administration, Slovakia, public debt sustainability
- Classification JEL:
- E62: Macroeconomics and Monetary Economics / Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook / Fiscal Policy
- H20: Public Economics / Taxation, Subsidies, and Revenue / General
- H21: Public Economics / Taxation, Subsidies, and Revenue / Efficiency; Optimal Taxation
- H50: Public Economics / National Government Expenditures and Related Policies / General
- H54: Public Economics / National Government Expenditures and Related Policies / Infrastructures; Other Public Investment and Capital Stock
- H57: Public Economics / National Government Expenditures and Related Policies / Procurement
- H61: Public Economics / National Budget, Deficit, and Debt / Budget; Budget Systems
- H63: Public Economics / National Budget, Deficit, and Debt / Debt; Debt Management; Sovereign Debt
- H83: Public Economics / Miscellaneous Issues / Public Administration; Public Sector Accounting and Audits