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Fiscal transparency practice, challenges, and possible solutions: lessons from Covid 19.
- Source :
- Public Money & Management; Apr2024, Vol. 44 Issue 3, p196-207, 12p
- Publication Year :
- 2024
-
Abstract
- The extraordinarily fast-paced growth in government spending during Covid 19 highlights the need for effective measures to ensure fiscal transparency during emergencies. Governments must improve emergency fiscal transparency by disclosing more detailed information on the types and conditions of funding sources, extra- and off-budget revenue sources, and recipients and impacts of spending. Institutional procedures should be established to safeguard fiscal transparency during emergencies, and to increase the effective involvement of legislatures, auditing agencies, and citizens in the management of fiscal rescue packages. This article revisits the concept of fiscal transparency in an emergency context. Examining the fiscal reporting practices of 120 national governments during Covid 19, as compiled by the International Budget Partnership, the authors found under-reporting of critical information on external funding sources; limited reporting on spending levels and impacts on vulnerable groups and areas; and lack of sufficient institutional safeguards to ensure fiscal transparency. They discuss the theoretical implications of their findings and provide policy recommendations for improvement. [ABSTRACT FROM AUTHOR]
- Subjects :
- TRANSPARENCY in government
COVID-19
COVID-19 pandemic
PUBLIC spending
BUDGET
Subjects
Details
- Language :
- English
- ISSN :
- 09540962
- Volume :
- 44
- Issue :
- 3
- Database :
- Complementary Index
- Journal :
- Public Money & Management
- Publication Type :
- Academic Journal
- Accession number :
- 176121209
- Full Text :
- https://doi.org/10.1080/09540962.2023.2175232