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The discussion of fiscal imbalance and equalisation was of particular importance in the drafting of the new Iraqi constitution. It was a sticking point for the drafting process—with the oil rich regions seeking to minimise the reallocation of revenue while other regions sought to maximise equalisation payments.
While the concept of horizontal fiscal imbalance is relatively non controversial (as explained above), there is a lively debate around the concepts of vertical fiscal imbalance and vertical fiscal gap (see Boadway 2002 [3] Bird 2003 [4]).
The government budget balance, also referred to as the general government balance, [1] public budget balance, or public fiscal balance, is the difference between government revenues and spending. For a government that uses accrual accounting (rather than cash accounting ) the budget balance is calculated using only spending on current ...
Large swaths of the U.S. government could temporarily close at midnight on Friday if Congress does not approve a stopgap spending bill due to pressure from Donald Trump. The president-elect is ...
Australia introduced a formal system of horizontal fiscal equalisation (HFE) in 1933 to compensate states/territories which have a lower capacity to raise revenue. The objective is full equalisation which means that, after HFE, each of the six states, the Australian Capital Territory and the Northern Territory would have the capacity to provide services and the associated infrastructure at the ...
To quantify the fiscal burden and to draw comparisons of different countries, the concept of "fiscal burden of government ratio" is used. Calculated according to certain methodologies, it basically means that the lower the score, the lower the involvement of the government in the economics of the country.
Kanye West's appearance at the 2025 Grammys left viewers with some questions. Kapoor said, "From what I understand, they were there for the red carpet" because West, 47, was nominated this year ...
SAPs are created with the stated goal of reducing the borrowing country's fiscal imbalances in the short and medium term or in order to adjust the economy to long-term growth. [3] By requiring the implementation of free market programmes and policy, SAPs are supposedly intended to balance the government's budget, reduce inflation and stimulate ...