Public Financial Management (PFMx)
|
|
- Joel Dennis
- 6 years ago
- Views:
Transcription
1 Public Financial Management (PFMx) Module 03 PFM and Fiscal Policy Design This training material is the property of the International Monetary Fund (IMF) and is intended for use in IMF Fiscal Affairs Department (FAD) courses. Any reuse requires the permission of the IMF and FAD.
2 A Tool to Deliver Fiscal Policy Objectives and Outcomes
3 Role of the International Monetary Fund (IMF) Share of activities by cost. (Fiscal year 2016) Capacity Development 29% Surveillance and Oversight 56% Lending 15% Surveillance and Oversight Lending Capacity Development Source: IMF Office of Budget and Planning. Note. The IMF s financial year is May 1 through April 30.
4 IMF Public Financial Management Technical Assistance
5 PFM Technical Assistance in Article IV Reports Nigeria
6 Role of the International Monetary Fund (IMF) Share of activities by cost. (Fiscal year 2016) Capacity Development 29% Surveillance and Oversight 56% Lending 15% Surveillance and Oversight Lending Capacity Development Source: IMF Office of Budget and Planning. Note. The IMF s financial year is May 1 through April 30.
7 An Example Jordan External Shock Impact Result Increase in fuel prices Imports of fuel cost more Increase in losses of state-owned electricity company (NEPCO) More government guaranteed debt and transfers to NEPCO Public debt increases
8 Fiscal Policy Public Financial Management What to do How to do High capacity in the MoF How policies should be designed How policies should be implemented
9 Coverage of the Public Sector
10 Coverage of the Public Sector Finland (2013) Guatemala (2014) Budgetary Central Government Budgetary Central Government Public Sector General Government Central Government State Governments Local Governments Social Security Extrabudgetary Central Government Social Security Extrabudgetary Central Government Public Corporations Public Non-financial Corporations Public Financial Corporations Subnational Government General Government Source: IMF Fiscal Transparency Evaluations. Public Corporations
11 Coverage of the Public Sector FINLAND (2013) GUATEMALA (2014) Reported Not Reported Source: IMF Fiscal Transparency Evaluations.
12 An Example Jordan External Shock Impact Result Increase in fuel prices Imports of fuel cost more Increase in losses of state-owned electricity company (NEPCO) More government guaranteed debt and transfers to NEPCO Public debt increases Coverage
13 Coverage Important because: Fiscal policy is carried out by different levels of government Budget allocations need to be made in a comprehensive manner Partial coverage is a source of fiscal risk
14
15
16 Anticipating Fiscal Risks Advanced Economies: Public Debt, (Percent of GDP) Spring % of GDP Spring Source: IMF.
17
18
19
20 Fiscal Costs of Contingent Liabilities 60 Fiscal Costs (Percent of GDP) Year Legal Natural Disaster(s) Other SOEs + PPPs Subnational Government Source: IMF Fiscal Monitor Database; and IMF estimates
21 Fiscal Costs of Contingent Liabilities 60 Indonesia Fiscal Costs (Percent of GDP) Algeria Thailand Korea Turkey Iceland Ireland Greece Year Financial Sector Legal Natural Disaster(s) Other SOEs + PPPs Subnational Government Source: IMF Fiscal Monitor Database; and IMF estimates
22
23 An Example Jordan External Shock Impact Result Increase in fuel prices Imports of fuel cost more Increase in losses of state-owned electricity company (NEPCO) More government guaranteed debt and transfers to NEPCO Public debt increases
24
25 Identifying and Analyzing Source: Where does the source of the risk reside? Incidence: What is the probablity of risk?
26 Identifying and Analyzing Source: Where does the source of the risk reside? Incidence: What is the probablity of risk? Endogenous Exogenous Continuous: regular events Discrete: occurring irregularly
27 Identifying and Analyzing Source: Where does the source of the risk reside? Incidence: What is the probablity of risk? Endogenous Exogenous Continuous: regular events Discrete: occurring irregularly
28
29
30
31
32
33
34 An Example Jordan External Shock Impact Result Increase in fuel prices Imports of fuel cost more Increase in losses of state-owned electricity company (NEPCO) More government guaranteed debt and transfers to NEPCO Public debt increases Diversification of fuel supply Tariff adjustments Efficiency gains Risk Mitigation
35
36 Big screen shot.
37 I am not sure we can open the fiscal risk statement
38 Definition of Public Corporations
39 Public Corporations Classified as: A separate entity by law Generate profit or other financial gain Set up for market production Controlled by government
40 Scope of Public Corporations Transport Utilities Other Airlines Electricity Postal services Ports Water Natural Resource companies Railways Telecommunications
41 Monitoring Public Corporations is important Public Corporations: Market value (Percent of GNI) 50% 40% 30% 20% 10% 0% China Russia Norway India Brazil Poland Czech Republic Indonesia Finland Sweden France Switzerland Source: Kowalski, P.; M. Büge; M. Sztajerowska; M. Egeland OECD Trade Policy Paper 147. Note: Data from Forbes Global 2000 are year 2011; and data for GNI are year Korea Greece United Kingdom Austria Belgium South Africa Japan Turkey United States Ireland Germany Italy
42 Public Corporations account for large share of the economy Number of State-owned enterprises (Average ) Poland Sweden Bulgaria Romania Croatia Slovenia Latvia Czech Republic Hungary Estonia Lithuania Slovakia Source: U. Böwer, IMF Working Paper.
43 Public Corporations account for large share of the economy Share of State-owned enterprises in the economy (Percent of total; annual average ) Output Bulgaria Croatia Czech Republic Employment Source: U. Böwer, IMF Working Paper. Note. Healthcare sector is excluded Estonia Hungary Latvia Lithuania Poland Romania Slovakia Slovenia Sweden
44 Public corporations impose economic and fiscal costs Average cost per energy sector employee, (Cost per state-owned enterprise employee in percent of cost in private firms.) Estonia Latvia Bulgaria Slovenia Czech Republic Slovakia Croatia Hungary Sweden Romania Poland Source: U. Böwer, IMF Working Paper.
45 Public Corporations can increase Public Debt Contingent liabilities (outside General Government) (Percent of GDP) Slovakia Lithuania Estonia Romania Croatia Czech Republic Source: Eurostat Bulgaria Hungary Latvia Poland Sweden Slovenia
46 Monitoring Public Corporations Ensures that Public Corporations are not a mechanism: for circumventing traditional fiscal controls; and a conduit for financial misconduct.
47 Effective Oversight of Public Corporations
48 Effective Oversight of Public Corporations
49 Effective Oversight of Public Corporations
50 Effective Oversight of Public Corporations
51 Effective Oversight of Public Corporations
52 Fiscal Policy Public Financial Management What to do How to do High capacity in the MoF How policies should be designed How policies should be implemented
53 An Example Jordan External Shock Impact Result Increase in fuel prices Imports of fuel cost more Increase in losses of state-owned electricity company (NEPCO) More government guaranteed debt and transfers to NEPCO Public debt increases Diversification of fuel supply Tariff adjustments Efficiency gains Risk Mitigation
Financial wealth of private households worldwide
Economic Research Financial wealth of private households worldwide Munich, October 217 Recovery in turbulent times Assets and liabilities of private households worldwide in EUR trillion and annualrate
More informationPublic Pension Spending Trends and Outlook in Emerging Europe. Benedict Clements Fiscal Affairs Department International Monetary Fund March 2013
Public Pension Spending Trends and Outlook in Emerging Europe Benedict Clements Fiscal Affairs Department International Monetary Fund March 13 Plan of Presentation I. Trends and drivers of public pension
More informationSTOXX EMERGING MARKETS INDICES. UNDERSTANDA RULES-BA EMERGING MARK TRANSPARENT SIMPLE
STOXX Limited STOXX EMERGING MARKETS INDICES. EMERGING MARK RULES-BA TRANSPARENT UNDERSTANDA SIMPLE MARKET CLASSIF INTRODUCTION. Many investors are seeking to embrace emerging market investments, because
More informationApproach to Employment Injury (EI) compensation benefits in the EU and OECD
Approach to (EI) compensation benefits in the EU and OECD The benefits of protection can be divided in three main groups. The cash benefits include disability pensions, survivor's pensions and other short-
More informationTAXATION OF TRUSTS IN ISRAEL. An Opportunity For Foreign Residents. Dr. Avi Nov
TAXATION OF TRUSTS IN ISRAEL An Opportunity For Foreign Residents Dr. Avi Nov Short Bio Dr. Avi Nov is an Israeli lawyer who represents taxpayers, individuals and entities. Areas of Practice: Tax Law,
More informationReporting practices for domestic and total debt securities
Last updated: 27 November 2017 Reporting practices for domestic and total debt securities While the BIS debt securities statistics are in principle harmonised with the recommendations in the Handbook on
More informationPublic Financial Management (PFMx) Module
Public Financial Management (PFMx) Module 4 The Annual Budget Preparation and Approval This training material is the property of the International Monetary Fund (IMF) and is intended for use in IMF Fiscal
More informationEU BUDGET AND NATIONAL BUDGETS
DIRECTORATE GENERAL FOR INTERNAL POLICIES POLICY DEPARTMENT ON BUDGETARY AFFAIRS EU BUDGET AND NATIONAL BUDGETS 1999-2009 October 2010 INDEX Foreward 3 Table 1. EU and National budgets 1999-2009; EU-27
More informationCorrigendum. OECD Pensions Outlook 2012 DOI: ISBN (print) ISBN (PDF) OECD 2012
OECD Pensions Outlook 2012 DOI: http://dx.doi.org/9789264169401-en ISBN 978-92-64-16939-5 (print) ISBN 978-92-64-16940-1 (PDF) OECD 2012 Corrigendum Page 21: Figure 1.1. Average annual real net investment
More informationGuide to Treatment of Withholding Tax Rates. January 2018
Guide to Treatment of Withholding Tax Rates Contents 1. Introduction 1 1.1. Aims of the Guide 1 1.2. Withholding Tax Definition 1 1.3. Double Taxation Treaties 1 1.4. Information Sources 1 1.5. Guide Upkeep
More informationSummary of key findings
1 VAT/GST treatment of cross-border services: 2017 survey Supplies of e-services to consumers (B2C) (see footnote 1) Supplies of e-services to businesses (B2B) 1(a). Is a non-resident 1(b). If there is
More informationFiscal rules in Lithuania
Fiscal rules in Lithuania Algimantas Rimkūnas Vice Minister, Ministry of Finance of Lithuania 3 June, 2016 Evolution of National and EU Fiscal Regulations Stability and Growth Pact (SGP) Maastricht Treaty
More informationJune 2014 Euro area international trade in goods surplus 16.8 bn 2.9 bn surplus for EU28
127/2014-18 August 2014 June 2014 Euro area international trade in goods surplus 16.8 bn 2.9 bn surplus for EU28 The first estimate for the euro area 1 (EA18) trade in goods balance with the rest of the
More informationUpdates and revisions of national SUTs for the November 2013 release of the WIOD
Updates and revisions of national SUTs for the November 2013 release of the WIOD Edited by Marcel Timmer (University of Groningen) With contributions from: Abdul A. Erumban, Reitze Gouma and Gaaitzen J.
More informationEMPLOYMENT RATE Employed/Working age population (15-64 years)
1 EMPLOYMENT RATE 1980-2003 Employed/Working age population (15-64 years 80 % Finland (Com 75 70 65 60 EU-15 Finland (Stat. Fin. 55 50 80 82 84 86 88 90 92 94 96 98 00 02 9.9.2002/SAK /TL Source: European
More informationWorld Consumer Income and Expenditure Patterns
World Consumer Income and Expenditure Patterns 2011 www.euromonitor.com iii Summary of Contents Contents Summary of Contents Section 1 Introduction 1 Section 2 Socio-economic parameters 21 Section 3 Annual
More informationMacroeconomic scenarios for skill demand and supply projections, including dealing with the recession
Alphametrics (AM) Alphametrics Ltd Macroeconomic scenarios for skill demand and supply projections, including dealing with the recession Paper presented at Skillsnet technical workshop on: Forecasting
More informationEMPLOYMENT RATE IN EU-COUNTRIES 2000 Employed/Working age population (15-64 years)
EMPLOYMENT RATE IN EU-COUNTRIES 2 Employed/Working age population (15-64 years EU-15 Denmark Netherlands Great Britain Sweden Portugal Finland Austria Germany Ireland Luxembourg France Belgium Greece Spain
More informationSpain France. England Netherlands. Wales Ukraine. Republic of Ireland Czech Republic. Romania Albania. Serbia Israel. FYR Macedonia Latvia
Germany Belgium Portugal Spain France Switzerland Italy England Netherlands Iceland Poland Croatia Slovakia Russia Austria Wales Ukraine Sweden Bosnia-Herzegovina Republic of Ireland Czech Republic Turkey
More informationJanuary 2014 Euro area international trade in goods surplus 0.9 bn euro 13.0 bn euro deficit for EU28
STAT/14/41 18 March 2014 January 2014 Euro area international trade in goods surplus 0.9 13.0 deficit for EU28 The first estimate for the euro area 1 (EA18) trade in goods balance with the rest of the
More informationLive Long and Prosper? Demographic Change and Europe s Pensions Crisis. Dr. Jochen Pimpertz Brussels, 10 November 2015
Live Long and Prosper? Demographic Change and Europe s Pensions Crisis Dr. Jochen Pimpertz Brussels, 10 November 2015 Old-age-dependency ratio, EU28 45,9 49,4 50,2 39,0 27,5 31,8 2013 2020 2030 2040 2050
More informationOpen Day 2017 Clearstream execution-to-custody integration Valentin Nehls / Jan Willems. 5 October 2017
Open Day 2017 Clearstream execution-to-custody integration Valentin Nehls / Jan Willems 5 October 2017 Deutsche Börse Group 1 Settlement services: single point of access to cost-effective, low risk and
More informationMay 2012 Euro area international trade in goods surplus of 6.9 bn euro 3.8 bn euro deficit for EU27
108/2012-16 July 2012 May 2012 Euro area international trade in goods surplus of 6.9 3.8 deficit for EU27 The first estimate for the euro area 1 (EA17) trade in goods balance with the rest of the world
More informationFirst estimate for 2011 Euro area external trade deficit 7.7 bn euro bn euro deficit for EU27
27/2012-15 February 2012 First estimate for 2011 Euro area external trade deficit 7.7 152.8 deficit for EU27 The first estimate for the euro area 1 (EA17) trade in goods balance with the rest of the world
More informationThe Challenge of Public Pension Reform in Advanced and Emerging Economies
The Challenge of Public Pension Reform in Advanced and Emerging Economies Mauricio Soto Fiscal Affairs Department International Monetary Fund January 212 The views expressed herein are those of the author
More informationJune 2012 Euro area international trade in goods surplus of 14.9 bn euro 0.4 bn euro surplus for EU27
121/2012-17 August 2012 June 2012 Euro area international trade in goods surplus of 14.9 0.4 surplus for EU27 The first estimate for the euro area 1 (EA17) trade in goods balance with the rest of the world
More informationNOTE. for the Interparliamentary Meeting of the Committee on Budgets
NOTE for the Interparliamentary Meeting of the Committee on Budgets THE ROLE OF THE EU BUDGET TO SUPPORT MEMBER STATES IN ACHIEVING THEIR ECONOMIC OBJECTIVES AS AGREED WITHIN THE FRAMEWORK OF THE EUROPEAN
More informationAugust 2012 Euro area international trade in goods surplus of 6.6 bn euro 12.6 bn euro deficit for EU27
146/2012-16 October 2012 August 2012 Euro area international trade in goods surplus of 6.6 12.6 deficit for EU27 The first estimate for the euro area 1 (EA17) trade in goods balance with the rest of the
More informationBULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - APRIL 2017 (PRELIMINARY DATA)
BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - APRIL 2017 (PRELIMINARY DATA) In the period January - April 2017 Bulgarian exports to the EU increased by 8.6% 2016 and amounted to 10 418.6 Million BGN
More informationEnterprise Europe Network SME growth outlook
Enterprise Europe Network SME growth outlook 2018-19 een.ec.europa.eu 2 Enterprise Europe Network SME growth outlook 2018-19 Foreword The European Commission wants to ensure that small and medium-sized
More informationBULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - MAY 2017 (PRELIMINARY DATA)
BULGARIAN TRADE WITH EU IN THE PERIOD JANUARY - MAY 2017 (PRELIMINARY DATA) In the period January - May 2017 Bulgarian exports to the EU increased by 10.8% 2016 and added up to 13 283.0 Million BGN (Annex,
More informationBurden of Taxation: International Comparisons
Burden of Taxation: International Comparisons Standard Note: SN/EP/3235 Last updated: 15 October 2008 Author: Bryn Morgan Economic Policy & Statistics Section This note presents data comparing the national
More informationDouble Tax Treaties. Necessity of Declaration on Tax Beneficial Ownership In case of capital gains tax. DTA Country Withholding Tax Rates (%)
Double Tax Treaties DTA Country Withholding Tax Rates (%) Albania 0 0 5/10 1 No No No Armenia 5/10 9 0 5/10 1 Yes 2 No Yes Australia 10 0 15 No No No Austria 0 0 10 No No No Azerbaijan 8 0 8 Yes No Yes
More informationEQUITY REPORTING & WITHHOLDING. Updated May 2016
EQUITY REPORTING & WITHHOLDING Updated May 2016 When you exercise stock options or have RSUs lapse, there may be tax implications in any country in which you worked for P&G during the period from the
More informationKEF-2016: Reforms for Inclusive Growth November 3 4, 2016
KEF-2016: Reforms for Inclusive Growth November 4, 2016 SOEs reform: Public finance perspective Brian Olden, Deputy Chief of the Public Financial Management Division, IMF 2016 KEF http://kef.by/ Belarus
More informationTurkey s Saving Deficit Issue From an Institutional Perspective
Turkey s Saving Deficit Issue From an Institutional Perspective Engin KURUN, Ph.D CEO, Ziraat Asset Management Oct. 25th, 2011 - Istanbul 1 PRESENTATION Household and Institutional Savings Institutional
More informationTHE IMPACT OF THE PUBLIC DEBT STRUCTURE IN THE EUROPEAN UNION MEMBER COUNTRIES ON THE POSSIBILITY OF DEBT OVERHANG
THE IMPACT OF THE PUBLIC DEBT STRUCTURE IN THE EUROPEAN UNION MEMBER COUNTRIES ON THE POSSIBILITY OF DEBT OVERHANG Robert Huterski, PhD Nicolaus Copernicus University in Toruń Faculty of Economic Sciences
More informationGlobal Business Barometer April 2008
Global Business Barometer April 2008 The Global Business Barometer is a quarterly business-confidence index, conducted for The Economist by the Economist Intelligence Unit What are your expectations of
More informationPublic Financial Management (PFMx) Module 1
Public Financial Management (PFMx) Module 1 Introduction to Public Financial Management This training material is the property of the International Monetary Fund (IMF) and is intended for use in IMF Institute
More informationFiscal Policy and the Global Crisis
Fiscal Policy and the Global Crisis Presentation at Koҫ University, Istanbul Carlo Cottarelli Director IMF Fiscal Affairs Department June 9, 2009 1 Two fiscal questions What is the appropriate fiscal policy
More informationStatistics Brief. Investment in Inland Transport Infrastructure at Record Low. Infrastructure Investment. July
Statistics Brief Infrastructure Investment July 2015 Investment in Inland Transport Infrastructure at Record Low The latest update of annual transport infrastructure investment and maintenance data collected
More informationEU-28 RECOVERED PAPER STATISTICS. Mr. Giampiero MAGNAGHI On behalf of EuRIC
EU-28 RECOVERED PAPER STATISTICS Mr. Giampiero MAGNAGHI On behalf of EuRIC CONTENTS EU-28 Paper and Board: Consumption and Production EU-28 Recovered Paper: Effective Consumption and Collection EU-28 -
More informationA GER AMWAY GLOBAL ENTREPRENEURSHIP REPORT WHAT DRIVES THE ENTREPRENEURIAL SPIRIT
A GER 2018 AMWAY GLOBAL ENTREPRENEURSHIP REPORT WHAT DRIVES THE ENTREPRENEURIAL SPIRIT S U R V E Y D E S I G N KEY FACTS OF THIS YEAR S SURVEY EDITION PARTNER RESEARCH INSTITUTE 8 th edition FIELDWORK
More informationThe macroeconomic effects of a carbon tax in the Netherlands Íde Kearney, 13 th September 2018.
The macroeconomic effects of a carbon tax in the Netherlands Íde Kearney, th September 08. This note reports estimates of the economic impact of introducing a carbon tax of 50 per ton of CO in the Netherlands.
More informationBorderline cases for salary, social contribution and tax
Version Abstract 1 (5) 2015-04-21 Veronica Andersson Salary and labour cost statistics Borderline cases for salary, social contribution and tax (Workshop on Labour Cost Survey, Rome, Italy 5-6 May 2015)
More informationEuropean Advertising Business Climate Index Q4 2016/Q #AdIndex2017
European Advertising Business Climate Index Q4 216/Q1 217 ABOUT Quarterly survey of European advertising and market research companies Provides information about: managers assessment of their business
More informationThe Challenge of Public Pension Reform
The Challenge of Public Pension Reform Baoping Shang Fiscal Affairs Department International Monetary Fund May 4, 212 This presentation represents the views of the author and should not be attributed to
More informationQuarterly Gross Domestic Product of Montenegro 2st quarter 2016
Government of Montenegro Statistical Office of Montenegro Quarterly Gross Domestic Product of Montenegro 2st quarter 2016 The release presents the preliminary data for quarterly gross domestic product
More informationInternational Statistical Release
International Statistical Release This release and additional tables of international statistics are available on efama s website (www.efama.org). Worldwide Investment Fund Assets and Flows Trends in the
More informationSummary 715 SUMMARY. Minimum Legal Fee Schedule. Loser Pays Statute. Prohibition Against Legal Advertising / Soliciting of Pro bono
Summary Country Fee Aid Angola No No No Argentina No, with No No No Armenia, with No No No No, however the foreign Attorneys need to be registered at the Chamber of Advocates to be able to practice attorney
More informationFCCC/SBI/2010/10/Add.1
United Nations Framework Convention on Climate Change Distr.: General 25 August 2010 Original: English Subsidiary Body for Implementation Contents Report of the Subsidiary Body for Implementation on its
More informationDeveloping Housing Finance Systems
Developing Housing Finance Systems Veronica Cacdac Warnock IIMB-IMF Conference on Housing Markets, Financial Stability and Growth December 11, 2014 Based on Warnock V and Warnock F (2012). Developing Housing
More informationSecond estimate for the first quarter of 2010 EU27 current account deficit 34.8 bn euro 10.8 bn euro surplus on trade in services
109/2010-22 July 2010 Second estimate for the first quarter of 2010 EU27 current account deficit 34.8 bn euro 10.8 bn euro surplus on trade in According to the latest revisions 1, the EU27 2 external current
More informationEUROPA - Press Releases - Taxation trends in the European Union EU27 tax...of GDP in 2008 Steady decline in top corporate income tax rate since 2000
DG TAXUD STAT/10/95 28 June 2010 Taxation trends in the European Union EU27 tax ratio fell to 39.3% of GDP in 2008 Steady decline in top corporate income tax rate since 2000 The overall tax-to-gdp ratio1
More informationDOMESTIC CUSTODY & TRADING SERVICES
Pricing Structure DOMESTIC CUSTODY & TRADING SERVICES A flat custody fee of 20bps per account type per year is applicable to all holdings and cash, the custody fee is collected each month but will be capped
More informationElectricity & Gas Prices in Ireland. Annex Business Electricity Prices per kwh 2 nd Semester (July December) 2016
Electricity & Gas Prices in Ireland Annex Business Electricity Prices per kwh 2 nd Semester (July December) 2016 ENERGY POLICY STATISTICAL SUPPORT UNIT 1 Electricity & Gas Prices in Ireland Annex Business
More informationCANADA EUROPEAN UNION
THE EUROPEAN UNION S PROFILE Economic Indicators Gross domestic product (GDP) at purchasing power parity (PPP): US$20.3 trillion (2016) GDP per capita at PPP: US$39,600 (2016) Population: 511.5 million
More informationide: FRANCE Appendix A Countries with Double Taxation Agreement with France
Fiscal operational guide: FRANCE ide: FRANCE Appendix A Countries with Double Taxation Agreement with France Albania Algeria Argentina Armenia 2006 2006 From 1 March 1981 2002 1 1 1 All persons 1 Legal
More informationStatistics Brief. OECD Countries Spend 1% of GDP on Road and Rail Infrastructure on Average. Infrastructure Investment. June
Statistics Brief Infrastructure Investment June 212 OECD Countries Spend 1% of GDP on Road and Rail Infrastructure on Average The latest update of annual transport infrastructure investment and maintenance
More informationHealth Referral Benefit Programme
1. Business Opportunity 2. Matching Business Opportunity 3. Achievement Business Opportunity 4. Re-Purchase Business Opportunity 5. Reward Opportunity 6. Franchise Benefits India - Price per bottle is
More informationPENSIONS IN OECD COUNTRIES: INDICATORS AND DEVELOPMENTS
PENSIONS IN OECD COUNTRIES: INDICATORS AND DEVELOPMENTS Marius Lüske Directorate for Employment, Labour and Social Affairs, OECD Lisbon, 28.09.2018 Marius.LUSKE@oecd.org www.oecd.org/els OUTLINE Talk based
More informationAPA & MAP COUNTRY GUIDE 2018 UKRAINE. New paths ahead for international tax controversy
APA & MAP COUNTRY GUIDE 2018 UKRAINE New paths ahead for international tax controversy UKRAINE APA PROGRAM KEY FEATURES Competent authority Relevant provisions Types of APAs available Acceptance criteria
More information11 th Economic Trends Survey of the Impact of Economic Downturn
11 th Economic Trends Survey 11 th Economic Trends Survey of the Impact of Economic Downturn 11 th Economic Trends Survey COUNTRY ANSWERS Austria 155 Belgium 133 Bulgaria 192 Croatia 185 Cyprus 1 Czech
More informationRecommendation of the Council on Tax Avoidance and Evasion
Recommendation of the Council on Tax Avoidance and Evasion OECD Legal Instruments This document is published under the responsibility of the Secretary-General of the OECD. It reproduces an OECD Legal Instrument
More informationTRADE IN GOODS OF BULGARIA WITH EU IN THE PERIOD JANUARY - JUNE 2018 (PRELIMINARY DATA)
TRADE IN GOODS OF BULGARIA WITH EU IN THE PERIOD JANUARY - JUNE 2018 (PRELIMINARY DATA) In the period January - June 2018 the exports of goods from Bulgaria to the EU increased by 10.7% 2017 and amounted
More informationDG TAXUD. STAT/11/100 1 July 2011
DG TAXUD STAT/11/100 1 July 2011 Taxation trends in the European Union Recession drove EU27 overall tax revenue down to 38.4% of GDP in 2009 Half of the Member States hiked the standard rate of VAT since
More informationOverview of FSC-certified forests January January Maps of extend of FSC-certified forest globally and country specific
Overview of FSCcertified forests January 2009 Maps of extend of FSCcertified forest globally and country specific Global certified forest area: 120.052.350 ha ( = 4,3%) + 11% Hectare FSCcertified forest
More informationLithuania: in a wind of change. Robertas Dargis President of the Lithuanian Confederation of Industrialists
Lithuania: in a wind of change Robertas Dargis President of the Lithuanian Confederation of Industrialists 2017 06 15 Lithuanian Confederation of Industrialists - the largest business organisation in Lithuania
More informationTotal Imports by Volume (Gallons per Country)
3/7/2018 Imports by Volume (Gallons per Country) YTD YTD Country 01/2017 01/2018 % Change 2017 2018 % Change MEXICO 54,235,419 58,937,856 8.7 % 54,235,419 58,937,856 8.7 % NETHERLANDS 12,265,935 10,356,183
More informationBULGARIAN TRADE WITH EU PRELIMINARY DATA
BULGARIAN TRADE WITH EU PRELIMINARY DATA During the period January - June 2010 the Bulgarian exports to EU increased by 17.4% compared to the corresponding period of the previous year and amounted to 8
More informationCENTRAL BANK OF THE REPUBLIC OF TURKEY
CENTRAL BANK OF THE REPUBLIC OF TURKEY Growth and Financial System Durmuş YILMAZ Governor February, 211 1 Presentation Outline I. Recent Developments in the Turkish Economy II. III. Monetary Policy Policy
More informationBETTER POLICIES FOR A SUCCESSFUL TRANSITION TO A LOW-CARBON ECONOMY
BETTER POLICIES FOR A SUCCESSFUL TRANSITION TO A LOW-CARBON ECONOMY Rintaro Tamaki Deputy Secretary-General, OECD International Forum for Sustainable Asia and the Pacific (ISAP)1 Yokohama, July 1 Four
More informationTAXATION (IMPLEMENTATION) (CONVENTION ON MUTUAL ADMINISTRATIVE ASSISTANCE IN TAX MATTERS) (AMENDMENT OF REGULATIONS No. 3) (JERSEY) ORDER 2017
Taxation (Implementation) (Convention on Mutual Regulations No. 3) (Jersey) Order 2017 Article 1 TAXATION (IMPLEMENTATION) (CONVENTION ON MUTUAL ADMINISTRATIVE ASSISTANCE IN TAX MATTERS) (AMENDMENT OF
More informationMay 2009 Euro area external trade surplus 1.9 bn euro 6.8 bn euro deficit for EU27
STAT/09/106 17 July 2009 May 2009 Euro area external trade surplus 1.9 6.8 deficit for EU27 The first estimate for the euro area 1 (EA16) trade balance with the rest of the world in May 2009 gave a 1.9
More informationHow to complete a payment application form (NI)
How to complete a payment application form (NI) This form should be used for making a payment from a Northern Ireland Ulster Bank account. 1. Applicant Details If you are a signal number indemnity holder,
More informationCFA Institute Member Poll: Euro zone Stability Bonds
CFA Institute Member Poll: Euro zone Stability Bonds I. About the Survey... 2 a. Background... 2 b. Purpose and Methodology... 2 II. Full Results... 2 Q1: Requirement of common issuance of sovereign bonds...
More informationAPA & MAP COUNTRY GUIDE 2017 DENMARK
APA & MAP COUNTRY GUIDE 2017 DENMARK Managing uncertainty in the new tax environment DENMARK KEY FEATURES Competent authority Danish Tax Office ( SKAT ) APA provisions/ guidance Types of APAs available
More information2017 Figures summary 1
Annual Press Conference on January 18 th 2018 EIB Group Results 2017 2017 Figures summary 1 European Investment Bank (EIB) financing EUR 69.88 billion signed European Investment Fund (EIF) financing EUR
More informationECONOMIC OUTLOOK. World Economy Autumn No. 33 (2017 Q3) KIEL INSTITUTE NO. 33 (2017 Q3)
KIEL INSTITUTE ECONOMIC OUTLOOK World Economy Autumn 7 Finalized September 6, 7 No. 33 (7 Q3) Klaus-Jürgen Gern, Philipp Hauber, Stefan Kooths, Galina Potjagailo, and Ulrich Stolzenburg Forecasting Center
More informationInternational Statistical Release
International Statistical Release This release and additional tables of international statistics are available on efama s website (www.efama.org) Worldwide Investment Fund Assets and Flows Trends in the
More informationREPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE OF THE REGIONS
EUROPEAN COMMISSION Brussels,.4.29 COM(28) 86 final/ 2 ANNEXES to 3 ANNEX to the REPORT FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE COUNCIL, THE EUROPEAN ECONOMIC AND SOCIAL COMMITTEE AND THE COMMITTEE
More informationGlobal Economic Briefing: Global Inflation
Global Economic Briefing: Global Inflation November, 7 Dr. Edward Yardeni -97-7 eyardeni@ Debbie Johnson -- djohnson@ Mali Quintana -- aquintana@ Please visit our sites at www. blog. thinking outside the
More informationLONG-TERM PROJECTIONS OF PUBLIC PENSION EXPENDITURE
7. FINANCES OF RETIREMENT-INCOME SYSTEMS LONG-TERM PROJECTIONS OF PUBLIC PENSION EXPENDITURE Key results Public spending on pensions has been on the rise in most OECD countries for the past decades, as
More informationRev. Proc Implementation of Nonresident Alien Deposit Interest Regulations
Rev. Proc. 2012-24 Implementation of Nonresident Alien Deposit Interest Regulations SECTION 1. PURPOSE Sections 1.6049-4(b)(5) and 1.6049-8 of the Income Tax Regulations, as revised by TD 9584, require
More informationEU State aid: Guidelines on State aid for environmental protection and energy making of -
EU State aid: Guidelines on State aid for environmental protection and energy 2014-2020 - making of - NHO Seminar Oslo, 5 November 2014 Guido Lobrano, Senior Legal Adviser Summary What is BUSINESSEUROPE?
More informationEU Pension Trends. Matti Leppälä, Secretary General / CEO PensionsEurope 16 October 2014 Rovinj, Croatia
EU Pension Trends Matti Leppälä, Secretary General / CEO PensionsEurope 16 October 2014 Rovinj, Croatia 1 Lähde: World Bank 2 Pension debt big (implicit debt, % of GDP, 2006) Source:Müller, Raffelhüschen
More informationTotal Imports by Volume (Gallons per Country)
5/4/2016 Imports by Volume (Gallons per Country) YTD YTD Country 03/2015 03/2016 % Change 2015 2016 % Change MEXICO 53,821,885 60,813,992 13.0 % 143,313,133 167,568,280 16.9 % NETHERLANDS 11,031,990 12,362,256
More informationTotal Imports by Volume (Gallons per Country)
10/5/2017 Imports by Volume (Gallons per Country) YTD YTD Country 08/2016 08/2017 % Change 2016 2017 % Change MEXICO 51,349,849 67,180,788 30.8 % 475,806,632 503,129,061 5.7 % NETHERLANDS 12,756,776 12,954,789
More informationAugust 2008 Euro area external trade deficit 9.3 bn euro 27.2 bn euro deficit for EU27
STAT/08/143 17 October 2008 August 2008 Euro area external trade deficit 9.3 27.2 deficit for EU27 The first estimate for the euro area 1 (EA15) trade balance with the rest of the world in August 2008
More informationSlovakia Country Profile
Slovakia Country Profile EU Tax Centre July 2016 Key tax factors for efficient cross-border business and investment involving Slovakia EU Member State Double Tax Treaties Yes With: Australia Austria Belarus
More informationA. INTRODUCTION AND FINANCING OF THE GENERAL BUDGET. EXPENDITURE Description Budget Budget Change (%)
DRAFT AMENDING BUDGET NO. 2/2018 VOLUME 1 - TOTAL REVENUE A. INTRODUCTION AND FINANCING OF THE GENERAL BUDGET FINANCING OF THE GENERAL BUDGET Appropriations to be covered during the financial year 2018
More information3 Labour Costs. Cost of Employing Labour Across Advanced EU Economies (EU15) Indicator 3.1a
3 Labour Costs Indicator 3.1a Indicator 3.1b Indicator 3.1c Indicator 3.2a Indicator 3.2b Indicator 3.3 Indicator 3.4 Cost of Employing Labour Across Advanced EU Economies (EU15) Cost of Employing Labour
More informationMadeira: Global Solutions for Wise Investments
Madeira: Global Solutions for Wise Investments Double Taxation Treaties Document downloaded from www.ibc-madeira.com DOUBLE TAXATION TREATIES RATIFIED BY PORTUGAL Europe RATIFICATION/ENTRY INTO FORCE AUSTRIA
More informationEMPLOYMENT RATE Employed/Working age population (15 64 years)
EMPLOYMENT RATE 198 26 Employed/Working age population (15 64 years 8 % Finland 75 EU 15 EU 25 7 65 6 55 5 8 82 84 86 88 9 92 94 96 98 2 4** 6** 14.4.25/SAK /TL Source: European Commission 1 UNEMPLOYMENT
More informationLinking Education for Eurostat- OECD Countries to Other ICP Regions
International Comparison Program [05.01] Linking Education for Eurostat- OECD Countries to Other ICP Regions Francette Koechlin and Paulus Konijn 8 th Technical Advisory Group Meeting May 20-21, 2013 Washington
More informationTotal Imports by Volume (Gallons per Country)
1/5/2018 Imports by Volume (Gallons per Country) YTD YTD Country 11/2016 11/2017 % Change 2016 2017 % Change MEXICO 50,994,409 48,959,909 (4.0)% 631,442,105 657,851,150 4.2 % NETHERLANDS 9,378,351 11,903,919
More informationTotal Imports by Volume (Gallons per Country)
10/5/2018 Imports by Volume (Gallons per Country) YTD YTD Country 08/2017 08/2018 % Change 2017 2018 % Change MEXICO 67,180,788 71,483,563 6.4 % 503,129,061 544,043,847 8.1 % NETHERLANDS 12,954,789 12,582,508
More informationTotal Imports by Volume (Gallons per Country)
11/2/2018 Imports by Volume (Gallons per Country) YTD YTD Country 09/2017 09/2018 % Change 2017 2018 % Change MEXICO 49,299,573 57,635,840 16.9 % 552,428,635 601,679,687 8.9 % NETHERLANDS 11,656,759 13,024,144
More informationThe Architectural Profession in Europe 2012
The Architectural Profession in Europe 2012 - A Sector Study Commissioned by the Architects Council of Europe Chapter 2: Architecture the Market December 2012 2 Architecture - the Market The Construction
More informationSecond estimate for the third quarter of 2008 EU27 current account deficit 39.5 bn euro 19.3 bn euro surplus on trade in services
STAT/09/12 22 January 2009 Second estimate for the third quarter of 20 EU27 current account deficit 39.5 bn euro 19.3 bn euro surplus on trade in According to the latest revisions1, the EU272 external
More information