Banai Péter Benő államtitkár Nemzetgazdasági Minisztérium

Banai P Ter Ben Llamtitk R Nemzetgazdas Gi Miniszt Rium-ppt Download

  • Date:13 Jan 2021
  • Views:3
  • Downloads:0
  • Size:5.19 MB

Share Presentation : Banai P Ter Ben Llamtitk R Nemzetgazdas Gi Miniszt Rium

Download and Preview : Banai P Ter Ben Llamtitk R Nemzetgazdas Gi Miniszt Rium

Report CopyRight/DMCA Form For : Banai P Ter Ben Llamtitk R Nemzetgazdas Gi Miniszt Rium


Transcription:

Ministry of FinanceDr Szab L szl head of divisionOverall Budgetary Planning Division 1 Fiscal rules and medium term budgeting.
2 Budgetary planning3 Budget execution4 Procedure for Year end report Medium term projection and fiscal rules Sub systems of the General Government.
General GovernmentCentral Government Central Budget Extra budgetary Funds Social Security Funds Pension Fund Health Fund .
Local GovernmentsOther Governmental Organisations ie MNV Zrt Fiscal rulesNational fiscal rules The European Union s fiscal rulesNational debt rule Debt rules.
Budget balance rule MaastrichtBudget balance rule MaastrichtMedium term Budgetary Medium term BudgetaryObjective MTO Objective MTO Expenditure rule.
Number of fiscal rules and average FRI in the EU 28Revenue and expenditure rule arenot incorporated in national fiscalSource MNB handbook no 14 June 2017 FRI Fiscal rules index The required fiscal adjustment preventive arm.
depends on many factorsDebt 60 and no Debt 60 orsustainability risk sustainability riskExceptionally Real growth 0 orNo adjustment needed.
bad times output gap 4Very bad times 4 output gap 3 0 0 250 if growth below 0 25 if growth belowBad times 3 output gap 1 5 potential 0 25 if growth potential 0 5 if growthabove potential above potential.
Normal times 1 5 output gap 1 5 0 5 0 5 0 5 if growth below 0 75 if growth belowGood times output gap 1 5 potential 0 75 if potential 1 if growthgrowth above potential above potentialSource Communication from the Commission to the European Parliament the Council the European Central Bank the Economic and Social Committee the Committee of the Regions and the European.
Investment Bank Making the best use of the flexibility within the existing rules of the Stability and Growth Pact COM 2015 12 final 13 1 2015 Preconditions of launching Significant Deviation ProcedureIn the case of a significant deviation from adequate adjustment pathtowards the MTO SDP can be launched The deviation will be consideredsignificant if .
a the deviation of the structural balance from the appropriateadjustment path is at least 0 5 of GDP in one single year or atleast 0 25 of GDP on average per year in two consecutive years b an excess of the rate of growth of expenditure net of discretionaryrevenue measures over the appropriate adjustment path defined in.
relation to the reference medium term rate of growth has had anegative impact on the government balance of at least 0 5 of apercentage point of GDP in one single year or at least 0 25 ofGDP on average per year in two consecutive years Compliance with the MTO or the required adjustment.
towards it2017 2018 2019 of GDP COM CP COM CP COMStructural balance pillar.
Required adjustment 0 3 1 0 0 75Required adjustment corrected 0 0 1 0 0 75Change in structural balance 1 4 0 2 0 5 0 7 0 4One year deviation from the required adjustment 1 4 1 2 1 5 0 1 0 4Two year average deviation from the required.
0 7 1 3 1 4 0 6 0 9adjustmentExpenditures benchmark pillarApplicable reference rate 1 5 2 8 3 9One year deviation adjusted for one offs 2 4 2 0 1 8 0 3 0 7.
Two year deviation adjusted for one offs 1 9 2 2 2 1 1 1 1 2Source European Comission Factors influencing judgment on Hungarian fiscal stance2016 2017 2018Deviation of net expenditure growth relative to the.
expenditure benchmark given as a share of GDP 1 4 2 4 1 8Deviation after corrections by items below 0 6 0 0 0 81 Co financing is taken into account 0 7 0 1 0 42 Different estimate of the expenditure benchmark 1 5 0 9 1 4.
3 The direct impact of discretionary revenue measures 0 0 1 4 0 8Source MoF calculations Medium term budgetingMedium term documents 2043 2017 XII 27 Government Decision GD on the.
budget revenues and budget expenditures of the central budget as well as the budget balance and government debt for years Macroeconomic and Budget Outlook MBO 2017 2021 Convergence Program CP 2018 2022 GD Government decision I .
2043 2017 XII 27 Government Decision on the budget revenues and budgetexpenditures of the central budget as well as the budget balance and government debtfor years 2018 2020million HUF2018 2019 2020 .
Chapter Expenditures Revenues Expenditures Revenues Expenditures RevenuesI National Assembly 136 086 80 10 980 00 134 754 60 10 980 00 116 950 20 10 980 00II Office of the President of the2 441 90 2 441 90 2 441 90III Constitutional Court 1 879 00 1 871 70 1 871 70.
IV Office of the Commissioner for1 331 50 1 331 50 1 331 50Fundamental RightsV State Audit Office of Hungary 9 317 40 20 9 317 40 20 9 317 40 20LXXI Pension Fund 3 361 466 20 3 361 466 20 3 491 427 90 3 491 427 90 3 640 030 00 3 640 030 00.
LXXII Health Insurance Fund 2 319 092 00 2 319 092 00 2 395 728 10 2 395 728 10 2 462 845 30 2 462 845 3020 098 18 737 20 181 19 787 20 385 19 955Total of Central Government 098 10 447 90 183 20 421 80 441 00 531 60 GD Government decision II 2043 2017 XII 27 Government Decision on the budget revenues and budget.
expenditures of the central budget as well as the budget balance and government debtfor years 2018 20202018 2019 2020 Cash balance of the central subsystem 1 360 650 20 393 761 40 429 909 40Cash balance of local governments 203 100 00 355 793 00 147 845 00.
Cash balance of general government 1 157 550 20 749 554 40 577 754 40ESA bridge 175 603 80 35 230 20 120 700 00ESA balance of general government 981 946 40 784 784 60 698 454 40ESA balance of general government in percent of 2 40 1 80 1 50 .
billion HUF2018 2019 2020 Government debt 29 027 30 29 674 80 30 129 40Government debt as a percentage of GDP 71 20 68 10 64 80 MBO December Government decision I .
Macroeconomic forecast 2017 2021 year on year percent MBO December Government decision II Macroeconomic and budget outlook 2018 20211 Economic policy objectives2 Macroeconomic developments and forecast.
2 1 International environment 2 2 The components of growth2 2 1 External economy2 2 2 Investment2 2 3 Consumption.
2 3 Labour market 2 4 Inflation trends 2 5 Cyclical processes 2 6 External balance 2 7 Assessment of the economic consequences of Government measures.
2 8 Monetary and exchange rate policy 2 9 Financial sector3 General government deficit and debt 3 1 Budget policy objectives 3 2 The 2017 budgetary outcome.
3 3 The 2018 budget 3 4 Budgetary developments from 2019 to 2022 3 5 Structural balance 3 6 General government debt4 Sensitivity analyses.
5 Long term sustainability of public finances6 Quality of public finances 6 1 Structure and efficiency of the expenditure of public finances 6 2 Structure and efficiency of revenues7 Institutional characteristics of public finances.
7 1 Budgetary framework system 7 2 Structure of data reporting on the statistics of public financesa General government budgetary prospects2017 2017 2018 2019 2020 2021 2022percent of GDP.
Net lending EDP B 9 by sub sector1 General government S 13 746 3 2 0 2 4 1 8 1 5 1 2 0 52 Central government S 1311 720 6 1 9 3 0 2 1 1 7 1 3 0 53 State government S 1312 4 Local government S 1313 10 1 0 0 0 4 0 0 0 0 0 0 0 0.
5 Social security funds S 1314 15 6 0 0 0 3 0 3 0 1 0 1 0 1General government S 13 6 Total revenue TR 17 008 4 44 5 45 5 45 1 42 9 41 0 39 97 Total expenditure TE 17 754 7 46 5 47 9 46 9 44 4 42 2 40 58 Balance B 9 746 3 2 0 2 4 1 8 1 5 1 2 0 5.
9 Interest expenditure D 41 1 067 4 2 8 2 6 2 4 2 3 2 2 2 110 Primary balance 321 1 0 8 0 2 0 6 0 8 1 0 1 611 One off and other temporary measures1 140 4 0 4 0 0 0 0 0 0 0 0 0 0b General government budgetary prospects2017 2017 2018 2019 2020 2021 2022.
code HUF billion percent of GDPSelected components of revenues12 Total taxes 12 12a 12b 12c 9 740 3 25 5 25 1 25 0 24 8 24 6 24 312a Taxes on production and imports D 2 6 891 7 18 0 18 1 17 9 17 6 17 4 17 012b Current taxes on income wealth etc D 5 2 833 4 7 4 6 9 7 0 7 1 7 2 7 2.
12c Capital taxes D 91 15 2 0 0 0 0 0 0 0 0 0 0 0 013 Social contributions D 61 4 898 4 12 8 12 7 12 6 12 2 11 6 11 214 Property income D 4 141 2 0 4 0 5 0 4 0 4 0 3 0 315 Other 2 228 5 5 8 7 3 7 1 5 6 4 5 4 216 6 Total revenue TR 17 008 4 44 5 45 5 45 1 42 9 41 0 39 9.
Tax burden2 D 2 D 5 D 61 D 91 D 995 14 687 5 38 5 37 9 37 7 37 1 36 3 35 6Selected components of expenditure17 Compensation of employees intermediateD 1 P 2 6 861 6 18 0 17 8 17 0 15 6 14 5 13 7consumption.
17 a Compensation of employees D 1 4 132 7 10 8 10 5 9 9 9 3 8 5 7 917 b Intermediate consumption P 2 2 728 9 7 1 7 3 7 1 6 4 6 0 5 718 Social payments 18 18 a 18 b 5 407 2 14 2 13 8 13 1 12 7 12 3 11 8of which Unemployment benefits 384 6 0 2 0 2 0 2 0 2 0 2 0 2.
18 a Social transfers in kind supplied via marketD 63121 734 7 1 9 1 9 1 8 1 7 1 6 1 518 b Social transfers other than in kind D 62 4 672 5 12 2 11 9 11 3 11 0 10 7 10 319 9 Interest expenditure D 41 1 067 4 2 8 2 6 2 4 2 3 2 2 2 120 Subsidies D 3 499 5 1 3 1 4 1 4 1 3 1 2 1 1.
21 Gross fixed capital formation P 51 1 687 3 4 4 6 0 7 0 6 5 5 8 5 522 Capital transfers D 9 988 9 2 6 2 6 2 3 2 6 3 0 3 123 Other 1 242 8 3 3 3 7 3 7 3 4 3 3 3 124 7 Total expenditure TE 17 754 7 46 5 47 9 46 9 44 4 42 2 40 5 Budgetary planning.
narrow sense Institutions that participate in budget formulationGovernmentdocument Budget Socialproposal partners.
State AuditParliame Office ofFiscal nt Hungarydocument Reportfinal document .
Budget Bill Role of Government the Government is the most important body ofexecutive power the primary director of public administration .
it implements decisions made by Parliament asthe legislative organ it pursues realization of the goals laid out in theGovernment s programme the Government submits the budget.
proposal to the Parliament the Government responsibilities andcompetences include all matters not expresslydelegated by the Fundamental Law or otherlegislation to the responsibilities and.
competences of another body Coordination with interest representatives1 Standing Consultative Forum for the Private Sector and the GovernmentStanding Consultative Forum for the Private Sector and the Government A Versenyszf ra s a Korm ny lland Konzult ci s F ruma VKF is the national consultative forum of the private sector which members.
the Government organizations of employers interests organizations of employees interests trade unions The Ministry of Finance is responsible for the operation of VKF 2 National Reconciliation Council of Public Services.
National Reconciliation Council of Public Services is the largest national reconciliation forum between thepublic sector and the Government Operation of OK T is defined essentially in the Public Servants Act 3 National Economic and Social Council of HungaryThe Parliament adopted the ACT XCIII of 2011 on the National Economic and Social Council abbreviated.
NESC in English and NGTT in Hungarian in recognition of the role of economic and social dialogue in orderto discuss strategies of national economy and social policy and to promote a consensus among variousinterest groups of society 4 Local government forums5 The additional public forums.
Other status dependent national inter sectoral and inter ministerial interest representation forum fordiscussing living working and employment conditions of public employees include The National Labour Council of Civil Servants KOMT The Interest Reconciliation Forum of Public Service Officials KEF The Armed Forces Interest Reconciliation Forum HEF .
The Police Interest Reconciliation Council discusses interests of the parties in law enforcement The Interest Reconciliation Council of Internal Affairs BET Their activities are defined in the agreements concluded by the parties establishing them The government s role in planning process Minister of Finance set out schedule for the budgetary planning.
The chapters managening agences line ministries prepare theuntil 30 June revenue and expenditure appropriation Negotiation with line ministries proposal for legal text daftuntil 31July Sending explanation of chapters.
Preparation the first version of the Budget Bill Minister of State for Public Finances send s the Budget Bill in it s firstreading to the GovermentAugust The Goverment makes the necessary decions and accepts the Budget The Budget Bill is sent to the Fiscal Council for it s opinion Fiscal.
Council has 10 days if it disagrees the Goverment has to discuss theall figures are in percentage points of GDP. Member States should achieve a more symmetrical approach to fiscal policy over the cycle through enhanced budgetary discipline in periods of economic recovery, with the objective to avoid pro-cyclical policies and to gradually reach their medium-term budgetary objective, thus creating the necessary room to accommodate economic downturns and reduce ...

Related Presentations