Macedonia’s Fiscal Reporting Practices: A Comprehensive Review

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In a significant move towards transparency and accountability, Macedonia has made available a range of fiscal information through various documents. This comprehensive review assesses the quality of Macedonia’s fiscal reporting practices against the standards set by the International Monetary Fund’s (IMF) Fiscal Transparency Code.

Coverage of Public Sector Institutions

Macedonia’s public sector comprises 1,328 separate units, including:

• Central government
• Local government
• Public nonfinancial corporations
• Public financial corporations

The largest units include:

• Public Enterprise for State Roads
• Macedonia Railways Infrastructure
• Macedonia Radio Television
• Deposit Insurance Fund
• National Bank of the Republic of Macedonia

Frequency and Timeliness of Reporting

Macedonia publishes a range of fiscal reports on a monthly, quarterly, and annual basis. These reports provide:

• Cash-based outturns for revenue, expenditure, and financing for various government entities, including:
  • Central government
  • Social security funds
  • Local governments

Quality, Accessibility, and Comparability of Fiscal Reports

The reports are presented in a clear and concise manner, with:

• Detailed economic classifications
• Breakdowns by budget user
• Commentary on spending and revenue performance
• Trends in general government debt

Reliability and Integrity of Reported Fiscal Data

Macedonia’s fiscal reporting practices demonstrate a commitment to transparency and accountability. The authorities provide:

• Reliable and accurate data, which is essential for:
  • Informed decision-making
  • Public scrutiny

Conclusion

In conclusion, Macedonia’s fiscal reporting practices demonstrate a high level of transparency, with comprehensive coverage of public sector institutions, frequent and timely reporting, and accessible and comparable reports. The reliability and integrity of the reported fiscal data are also ensured through rigorous data collection and verification processes.

This review highlights Macedonia’s commitment to promoting good governance and accountability in its fiscal management practices.

Public Sector Institutions and Finances, 2016

Note: The figures are based on 2016 data and may not reflect the current situation.

Recommendations

To further enhance fiscal transparency, the authorities should consider:

• Providing more detailed breakdowns of government expenditures by category
• Increasing the frequency of reporting for local governments and public nonfinancial corporations
• Enhancing online accessibility to fiscal reports and data

By implementing these recommendations, Macedonia can continue to promote good governance and accountability in its fiscal management practices.