Priorities for Further Fiscal Reforms in the Commonwealth of Independent States

Download or read book Priorities for Further Fiscal Reforms in the Commonwealth of Independent States written by Mr.Henri Lorie and published by International Monetary Fund. This book was released on 2003-10-01 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Building on the substantial progress made in establishing fiscal systems consistent with market economies, the paper identifies priorities for further fiscal structural reforms among the Commonwealth of Independent States (CIS) countries. Activities of extra budgetary accounts and quasi-fiscal activities need to be brought into the budget framework. Although there is room for improvements, the CIS countries now have, broadly, levels of tax revenues and expenditures not out of line with the international norm, taking into account income levels. The main challenges they face are to further increase the market friendliness of taxation and to implement an efficiency-improving structural reform of the expenditure system while strengthening control and accountability.