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Several European Union countries have recently implemented or are envisaging fiscal that operations improve budgetary figures but have no structural impact on government finances. This paper evaluates some of these measures using a balance sheet approach. In particular, it examines the degree to which reductions in government debt in EU countries has been accompanied by a decumulation of government assets. In the run-up to Maastricht (1997) it finds a strong correlation between changes in government liabilities and government assets, and larger declines in government assets in countries starting from higher public debt levels.

Fiscal policy --- Debts, Public --- Finance, Public --- Debts, Government --- Government debts --- National debts --- Public debt --- Public debts --- Sovereign debt --- Debt --- Bonds --- Deficit financing --- Accounting --- Budgeting --- Macroeconomics --- Public Finance --- Debt Management --- Sovereign Debt --- Public Administration --- Public Sector Accounting and Audits --- Fiscal Policy --- National Budget --- Budget Systems --- Public finance & taxation --- Budgeting & financial management --- Financial reporting, financial statements --- Financial statements --- Fiscal stance --- Budget planning and preparation --- Government liabilities --- Budget --- Greece

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This report assesses the Observance of Standards and Codes on Fiscal Transparency for Moldova. Moldova has made progress in recent years in improving fiscal transparency, and meets the Code of Good Practices on Fiscal Transparency in some areas. However, shortcomings remain in several areas, and key weaknesses have been identified in the monitoring of state-owned enterprises and the regulatory framework for the private sector. In a range of other areas, Moldova meets fiscal transparency requirements to some extent, but further improvements would be useful.

Budget --- Fiscal policy --- Statistics --- Statistical analysis --- Statistical data --- Statistical methods --- Statistical science --- Mathematics --- Econometrics --- Tax policy --- Taxation --- Economic policy --- Finance, Public --- Budgeting --- Expenditures, Public --- Standards --- Government policy --- Forecasting --- Moldova --- Economic policy. --- Economic conditions. --- Accounting --- Public Finance --- National Budget --- Budget Systems --- Public Administration --- Public Sector Accounting and Audits --- National Budget, Deficit, and Debt: General --- Forecasts of Budgets, Deficits, and Debt --- National Government Expenditures and Related Policies: General --- Budgeting & financial management --- Public finance & taxation --- Financial administration & public finance law --- Public finance accounting --- Budget planning and preparation --- Budget execution and treasury management --- Contingent liabilities --- PFM legal and regulatory frameworks --- Fiscal accounting and reporting --- Public financial management (PFM) --- Medium-term budget frameworks --- Expenditure --- Law and legislation --- Moldova, Republic of --- Pfm legal and regulatory frameworks