Independent Fiscal Institutions in the Countries of Eastern-Central Europe

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Prof. Dr. Arpad Kovacs
Prof. Dr. Arpad Kovacs
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Prof.  Dr. Arpad Kovacs
Prof. Dr. Arpad Kovacs
1 University of Szeged

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GJMBR Volume 14 Issue B7

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Improving the efficiency of budgetary management and preventing overspending that secedes from performance, are fundamental budget stability conditions and issues of strategic importance. “Rulebased” budget means more than merely a stipulation that public finance managements shall observe the rules of budget planning and execution and that the real and budgetary sectors of the economy are characterised by the rule of law. Rule-based budget requires the employment of numerical and procedural regulations by institutionally ensuring their respective observance. Regarding the latter we can declare that in Eastern and Central Europe the interest has grown recently for fiscal councils that have been shooting up like mushrooms and are believed to be almost like “the ultimate weapon” in fighting budgetary overspending. The demands for creating such new institutions at the same time undeniably represent criticism concerning the former processes of the planning mechanisms and their respective institutionalised solutions. This paper aspirations to provide a picture as regards to what extent can fiscal councils be regarded as a new type of organisation within the family of independent fiscal institutions (IFIs), that reflect institutional development and, in the public law of the new democracies having accessed the EU following 2004, mean the best solution to be recommended, i.e. the “best practice”.

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No external funding was declared for this work.

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The authors declare no conflict of interest.

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No ethics committee approval was required for this article type.

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Not applicable for this article.

Prof. Dr. Arpad Kovacs. 2014. \u201cIndependent Fiscal Institutions in the Countries of Eastern-Central Europe\u201d. Global Journal of Management and Business Research - B: Economic & Commerce GJMBR-B Volume 14 (GJMBR Volume 14 Issue B7): .

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Issue Cover
GJMBR Volume 14 Issue B7
Pg. 45- 58
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Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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v1.2

Issue date

November 6, 2014

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English

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Improving the efficiency of budgetary management and preventing overspending that secedes from performance, are fundamental budget stability conditions and issues of strategic importance. “Rulebased” budget means more than merely a stipulation that public finance managements shall observe the rules of budget planning and execution and that the real and budgetary sectors of the economy are characterised by the rule of law. Rule-based budget requires the employment of numerical and procedural regulations by institutionally ensuring their respective observance. Regarding the latter we can declare that in Eastern and Central Europe the interest has grown recently for fiscal councils that have been shooting up like mushrooms and are believed to be almost like “the ultimate weapon” in fighting budgetary overspending. The demands for creating such new institutions at the same time undeniably represent criticism concerning the former processes of the planning mechanisms and their respective institutionalised solutions. This paper aspirations to provide a picture as regards to what extent can fiscal councils be regarded as a new type of organisation within the family of independent fiscal institutions (IFIs), that reflect institutional development and, in the public law of the new democracies having accessed the EU following 2004, mean the best solution to be recommended, i.e. the “best practice”.

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Independent Fiscal Institutions in the Countries of Eastern-Central Europe

Prof.  Dr. Arpad Kovacs
Prof. Dr. Arpad Kovacs

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