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21-Apr-2011
The Japanese fiscal situation has reached a critical point. Chronic budget deficits were projected to push up gross public debt to an unprecedented 200% of GDP, and net debt to 115% in 2011. A credible and detailed medium-term consolidation plan will thus be a top priority.
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18-Apr-2011
Owing to government policies, the fiscal deficit and public debt have remained low. However, the pro cyclical bias of fiscal policy should be addressed by introducing multi year public expenditure ceilings. An independent fiscal institution should provide expert input for fiscal policy decisions and assess outcomes.
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18-Apr-2011
Estonia has a large network of very small municipalities, making the provision of government services inefficient and of variable quality. Therefore it should follow the example of other countries in the region and establish a more efficient municipal network through mergers and joint provision of services.
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16-Mar-2011
While the government’s fiscal plans and reforms to the fiscal policy framework have significantly reduced fiscal risks, further improvements to the fiscal framework and reforms to make the financial sector more robust are needed. The government has embarked on an ambitious and necessary fiscal adjustment and strengthening of fiscal institutions, including the welcome creation of the Office for Budget Responsibility.
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18-Feb-2011
A sustainable consolidation of public finances is necessary to maintain investor confidence. The proposed pension reform is a step in the right direction, but a more comprehensive reform is needed to address the issue of long-term fiscal sustainability.
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Key Publication
Focus on Citizens: Public Engagement for Better Policy and Services
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