Kosovo Public Finance Review : Fiscal Policies for a Young Nation

World Bank

Kosovo Public Finance Review : Fiscal Policies for a Young Nation

Autores

World Bank

Editor

Washington, DC

Descripción

Kosovo is Europe s youngest country, both in terms of history and demographics. As part of the former Yugoslavia, Kosovo became a separate territory under United Nations administration in 1999, and declared its independence in 2008. By February 2014 it had been recognized by 106 UN member states including 23 out of 28 EU members. Kosovo is a potential candidate for European Union (EU) membership and is currently negotiating a Stabilization and Association Agreement (SAA) with the European Commission. From 1999 Kosovo has been using the Deutsche Mark and, since 2002, its successor currency, the Euro, as legal tender. Kosovo is a landlocked country in South East Europe (SEE) with about 1.8 million inhabitants and a large migrant population based mainly in Western European countries. Kosovo has taken great strides to rebuild an economy destroyed by the collapse of Yugoslavia and the 1998-99 war, with sound fiscal numbers and budgets focused on capital expenditure. In general, Kosovo s headline macroeconomic indicators are also relatively sound. Growth has averaged over 4 percent since 2000 and remained positive after 2008 during the global crisis years. Household survey evidence for 2006-11 suggests that economic growth benefitted all sections of society but the poorest 40 percent of the population saw consumption rise faster than wealthier groups. Public and private investments have made large contributions toward economic growth over the last five years as efforts to rebuild the economy continued.

Palabras clave

ACCESS TO EDUCATION, ACCESS TO MARKETS, ACCOUNTABILITY, ACCOUNTING, ALLOCATION, ANNUAL BUDGET, APPROPRIATIONS, BALANCE OF PAYMENTS, BANKING SYSTEM, BARRIERS TO GROWTH, BASELINE SCENARIO, BASIC NEEDS, BENEFICIARIES, BENEFICIARY, CAPITAL EXPENDITURE, CAPITAL INVESTMENT, CAPITAL INVESTMENTS, CAPITAL PROJECTS, CAPITAL SPENDING, CAPITAL STOCK, CASH PAYMENTS, CASH RESERVES, CENTRAL BANK, CONSUMER PRICE INDEX, CORPORATE INCOME TAX, CORRUPTION, COST ESTIMATE, CURRENCY, DEBT LEVELS, DEFICIT FINANCING, DEFICITS, DEMOGRAPHIC COMPOSITION, DEPOSITS, DOMESTIC DEMAND, DONOR SUPPORT, EARLY CHILDHOOD, EARLY CHILDHOOD EDUCATION, ECONOMIC COOPERATION, ECONOMIC GROWTH, ECONOMIES OF SCALE, EDUCATION EXPENDITURES, EDUCATION FUNDS, EDUCATION LEVELS, EDUCATION QUALIFICATIONS, EDUCATION SPENDING, EDUCATION SYSTEM, EFFICIENCY OF PUBLIC SPENDING, ELECTRICITY, EMPLOYERS, ENROLLMENT, EQUIPMENT, EVASION, EXCESS SUPPLY, EXPENDITURE, EXPENDITURE ALLOCATIONS, EXPENDITURES, EXPROPRIATIONS, EXTREME POVERTY, FAMILIES, FINANCE MINISTRY, FINANCIAL HEALTH, FINANCIAL INSTRUMENTS, FINANCIAL MANAGEMENT, FISCAL DEFICIT, FISCAL DEFICITS, FISCAL IMPACT, FISCAL PERFORMANCE, FISCAL POLICIES, FISCAL POLICY, FOREIGN DIRECT INVESTMENTS, GLOBAL ECONOMY, GOVERNMENT BANK, GOVERNMENT GRANTS, GROSS DOMESTIC PRODUCT, GROUPS OF PEOPLE, HEALTH CARE, HEALTH CARE PROGRAM, HEALTH EXPENDITURES, HEALTH FINANCING, HEALTH INSURANCE, HEALTH INSURANCE FUND, HEALTH OUTCOMES, HEALTH SECTOR, HEALTH SPENDING, HOUSEHOLDS, HOUSING, HUMAN CAPITAL, INCOME GROUP, INCOME TAX, INCOME TAXES, INFORMAL ECONOMY, INFORMATION SYSTEM, INFORMATION TECHNOLOGY, INFRASTRUCTURE INVESTMENT, INSURANCE, INTEREST PAYMENTS, INTERNATIONAL BANK, INTERNATIONAL BORROWING, INTERNATIONAL DEBT, INTERNATIONAL DEBT MARKETS, INTERNATIONAL DEVELOPMENT, INTERNATIONAL FINANCIAL INSTITUTIONS, INVESTING, INVESTMENT PROJECTS, KEY CHALLENGES, LABOR FORCE SURVEY, LABOR MARKET, LABOR MARKETS, LEGAL SYSTEM, LEGAL TENDER, LICENSES, LIQUIDITY, LONG-TERM DEBT, MACROECONOMIC INDICATORS, MACROECONOMIC POLICY, MEDIUM TERM EXPENDITURE, MEDIUM TERM EXPENDITURE FRAMEWORK, MINISTRIES OF FINANCE, MINISTRY OF FINANCE, MONETARY FUND, MUNICIPALITIES, NATURAL DISASTER, NET LENDING, NET REVENUE, NET SPENDING, NUTRITION, OBSTACLES TO GROWTH, PENSION, PENSION SYSTEM, PENSIONS, PERSONAL INCOME, PERSONAL INCOME TAX, PERSONAL INCOME TAXES, PHYSICAL CAPITAL, PORTS, POVERTY IMPACT, POVERTY REDUCTION, PREMIUM PAYMENTS, PRIMARY DEFICITS, PRIVATE FINANCING, PRIVATE INVESTMENTS, PRIVATE SECTOR, PRIVATE SECTOR PARTICIPATION, PRIVATIZATION, PROPERTY TAX, PROPERTY TAX COLLECTION, PROPERTY TAXES, PROVISIONS, PUBLIC, PUBLIC DEBT, PUBLIC DEBT STOCK, PUBLIC EXPENDITURE, PUBLIC EXPENDITURE REVIEW, PUBLIC EXPENDITURES, PUBLIC FINANCE, PUBLIC FINANCE MANAGEMENT, PUBLIC FINANCES, PUBLIC FINANCIAL MANAGEMENT, PUBLIC FUNDS, PUBLIC HEALTH, PUBLIC INTEREST, PUBLIC INVESTMENT, PUBLIC INVESTMENTS, PUBLIC PROCUREMENT, PUBLIC RESOURCES, PUBLIC REVENUES, PUBLIC SECTOR, PUBLIC SECTOR SPENDING, PUBLIC SERVANTS, PUBLIC SERVICE, PUBLIC SERVICES, PUBLIC SPENDING, PURCHASING POWER, PURCHASING POWER PARITY, RATES OF RETURN, RECEIPTS, RECESSION, REGISTRATION FEES, REMITTANCES, REVENUE COLLECTION, REVENUE GROWTH, REVENUE PERFORMANCE, REVENUE POLICY, REVENUE SOURCES, RISK ASSESSMENTS, ROAD MAINTENANCE, ROADS, SAVINGS, SHAREHOLDERS, SOCIAL ASSISTANCE, SOCIAL PROTECTION, SOCIAL SECURITY, SOCIAL WELFARE, STATE GUARANTEE, TARIFF REVENUE, TAX ADMINISTRATION, TAX BENEFITS, TAX COLLECTION, TAX EVASION, TAX EXEMPTIONS, TAX LAW, TAX POLICY, TAX RATES, TAX REVENUE, TAX REVENUES, TAX STRUCTURE, TAX SYSTEM, TELECOMMUNICATIONS, TOTAL PUBLIC EXPENDITURE, TOTAL PUBLIC SPENDING, TOTAL TAX REVENUE, UNEMPLOYMENT, UNION, URBAN AREAS, USER CHARGES, VULNERABLE GROUPS, VULNERABLE HOUSEHOLDS, WATER SUPPLY SYSTEMS