Примери коришћења Fiscal council estimates на Енглеском и њихови преводи на Српски
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The Fiscal council estimates that other urgent measures are necessary.
After the analysis of most recent developments with in public revenue and public expenditure, the Fiscal Council estimates that unless the Government moves fast, the consolidated government deficit could reach about RSD 216 billion(6.5% of GDP) by the end of the year.
The Fiscal Council estimates that the 2014 deficit must not exceed 3% of GDP.
Although, according to the fiscal rule relating to deficit,the slowdown of economic growth would need to contribute to the rise of fiscal deficit, the Fiscal Council estimates that that growth of general government's deficit in 2012 in excess of the planned 153 billion dinars would be unsustainable and, accordingly, unacceptable.
The Fiscal Council estimates that a budget surplus of about 20 bn dinars will be achieved in 2017.
Bearing in mind all the above given, the Fiscal Council estimates that the revenues will be around RSD 6 billion lower than those envisaged in the amendments to the Draft Budget Law.
Fiscal Council estimates that optimization of staff numbers and earnings could result in savings of EUR 50 million.
Taking into account all of the above facts, the Fiscal Council estimates that the planned tax revenues in 2012 are by between 0.4 and 0.5% of GDP(or by between 15 to 18 billion dinars) larger than it is feasible to be achieved with the real GDP growth of 1.5%.
The Fiscal Council estimates that the public revenue collection will, most likely, come close to the planned amount.
The Fiscal Council estimates that the 2013 state deficit will amount to at least 5.5% of GDP instead of the planned 3.6% of GDP.
The Fiscal Council estimates that the payroll tax cut could be higher than 1%, as planned for next year's budget.
However, the Fiscal Council estimates that the greatest scope of this Program will be the reduction of the deficit by only 0.6- 0.7% of GDP.
Therefore, the Fiscal Council estimates that the government deficit could exceed the planned level by around RSD 25 billion(0.7% of GDP) in 2012.
As a result, the Fiscal Council estimates that the net effect for the budget will most likely be smaller by about 3 billion dinars of the planned 10.9 billion dinars.
The Fiscal Council estimates that the public investments could, in the medium term, increase to about 5.5% of GDP- which does not provide the space for all the announced projects.
However, the Fiscal Council estimates that these measures are insufficiently well prepared(subsidies), lack credibility(salary and pension freeze) and are unachievable(downsizing).
The Fiscal Council estimates that, with planned fiscal policy in 2013, state deficit will exceed the planned one(4.3% of GDP) by around RSD 25 billion, while there are certain risks to exceed it further.
At the same time, the Fiscal Council estimates that the National Grey Economy Suppression Program, adopted by the Government in December 2015, is inadequate and that it will not lead to a significant increase of public revenue collection.
The Fiscal Council estimates that EPS should invest more than three billion euros in building new generation capacities and developing its distribution network in order to provide sufficient electricity and avoid its enormous imports.
The Fiscal Council estimates that domestic electricity consumption will significantly exceed its current production capacity, so either new capacities to cover this production must be built or large quantities of electricity will have to be imported.
For this reason, the Fiscal Council estimates that the true savings with regards to subsidies is the difference between the funds which are being saved(economy) and new expenditures(RTS, RTV), i.e. 0.1% of GDP, not 0.3% of GDP as it is given in the Strategy.
The Fiscal Council estimates that the second part of the measures envisaged by the Program- a reduction of discretionary expenditures by 4.8 billion RSD- is possible. Expenditures mandated by law(salaries, pensions and social protection), capital expenditures and incentives for agricultural and industrial production will not be reduced relative to the plan.
The period in which current expenditures need to be lowered is an additional limitation since the Fiscal Council's estimates point to unsustainable public debt growth in the absence of early commencement of fiscal adjustment(see Section 7:"Fiscal Framework for 2013 and 2014").
In the first four months of 2015, according to Fiscal Council's estimates, the implementation of public investments is already about 10 bn dinars behind schedule- which, simultaneously, is one of the major contributors to such a low fiscal deficit at the beginning of the year.
Accordingly, the Fiscal Council's estimate of the public debt level at the end of 2012 of about 51% of GDP is mildly optimistic.
When all of the above is taken into account5, the Fiscal Council's estimate is that the public debt will be around 51% of GDP at the close of 2012.
Therefore, the difference in the economic growth forecast does not have a significant impact on the public revenue estimate of the Fiscal Council and the Ministry of Finance.
However, the Fiscal Council's estimate is that the public debt in 2012 will be above the legally defined limit of 45% of GDP and as such will violate the fiscal rule relating to pubic debt.