Budget Process and Fiscal Discipline in Latvia: Analysis of Past Progress and Possible Future Development
Latvijas Universitātes raksti. 771.sēj.: Ekonomika. Vadības zinātne 2011
Kārlis Ketners, Ludmila Jevčuka

Aim of this paper is to analyze existing fiscal discipline in Latvia through elements of fiscal rules and medium term expenditure planning, its past development and future perspectives. Examination of changes in respective legislation was performed, supported by theoretical background. It is concluded, that there are no long term binding numerical fiscal rules, and creation of such was initiated as a response to economic downturn. Development of medium term framework was rather formal and informative, and can be viewed as a response to international requirements for having such a framework. New proposals on respective issues mostly appear to be modified proposals from the past. It is suggested to simplify the legislative frame and way of appliance of fiscal targets, as well to promote changes in political culture.


Keywords
fiscal policy, fiscal rules, budget process
Hyperlink
http://www.lu.lv/fileadmin/user_upload/lu_portal/apgads/PDF/LUR-771_Ekonom_001-352lpp.pdf#page=142

Ketners, K., Jevčuka, L. Budget Process and Fiscal Discipline in Latvia: Analysis of Past Progress and Possible Future Development. In: Latvijas Universitātes raksti. 771.sēj.: Ekonomika. Vadības zinātne. Rīga: Latvijas Universitāte, 2011, pp.126-142. ISBN 978-9984-45-421-4. ISSN 1407-2157.

Publication language
English (en)
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