Identifier
Created
Classification
Origin
08SOFIA157
2008-03-18 11:03:00
UNCLASSIFIED
Embassy Sofia
Cable title:
BULGARIA'S FISCAL TRANSPARENCY
how-toVZCZCXRO7839 PP RUEHAG RUEHAST RUEHDA RUEHDF RUEHFL RUEHIK RUEHKW RUEHLA RUEHLN RUEHLZ RUEHPOD RUEHROV RUEHSR RUEHVK RUEHYG DE RUEHSF #0157 0781103 ZNR UUUUU ZZH P 181103Z MAR 08 FM AMEMBASSY SOFIA TO RUEHC/SECSTATE WASHDC PRIORITY 4846 INFO RUCPDOC/USDOC WASHDC RUEHZL/EUROPEAN POLITICAL COLLECTIVE RUEATRS/DEPT OF TREASURY WASHINGTON DC
UNCLAS SOFIA 000157
SIPDIS
DEPT FOR EEB/IFD/OMA ASNOW;RFIGUEROA
DEPT FOR EUR/NCE MTURNER
SIPDIS
E.O. 12958: N/A
TAGS: EAID ECON PREL PGOV BU
SUBJECT: BULGARIA'S FISCAL TRANSPARENCY
Ref: State 16737
UNCLAS SOFIA 000157
SIPDIS
DEPT FOR EEB/IFD/OMA ASNOW;RFIGUEROA
DEPT FOR EUR/NCE MTURNER
SIPDIS
E.O. 12958: N/A
TAGS: EAID ECON PREL PGOV BU
SUBJECT: BULGARIA'S FISCAL TRANSPARENCY
Ref: State 16737
1. (U) Per reftel, the following is an assessment of Bulgaria's
fiscal transparency.
2. (U) International standards for budget reporting are in place
in Bulgaria, as required by EU membership. Relevant budget
documents can be found on the websites of the Ministry of Finance
and Parliament (the Finance and Budget Committee) during parliament
hearings. The final budget is published in the State Gazette. Data
on budget performance is published monthly, both in hard copy and on
the Internet. The quality of fiscal statistics is generally
reliable. A 2006 Open Budget Initiative review on Bulgaria
recommended enhanced public access to internal budget planning
processes.
3. (U) The EU allocated funds during Bulgaria's pre-accession
period to strengthen inside control mechanisms, draft new
legislation, improve and update existing regulations, and create
strategic plans on managing and planning public finances. A
Dutch-Bulgarian twinning project strengthened the capacity of the
Ministry of Finance to oversee the process of public budgeting, and
further enhanced program budgeting techniques as a way to achieve
more fiscal transparency and accountability within the central and
local governments. Fiscal decentralization is progressing, allowing
local authorities more discretion in, and higher accountability for,
collecting and spending local budgets. An Open Government
Initiative helped re-establish a National Auditor's Office in 1995
in an effort to assist the GOB in strengthening its auditing
systems, which consist of internal controls, supreme audits, and
parliamentary oversight and follow-up.
4. (U) Bulgaria conducts regular Article IV consultations with the
IMF following the Fund's exit in March 2007. Currently, the country
has no special reporting obligations under the IMF's standards and
codes for fiscal transparency.
BEYRLE
SIPDIS
DEPT FOR EEB/IFD/OMA ASNOW;RFIGUEROA
DEPT FOR EUR/NCE MTURNER
SIPDIS
E.O. 12958: N/A
TAGS: EAID ECON PREL PGOV BU
SUBJECT: BULGARIA'S FISCAL TRANSPARENCY
Ref: State 16737
1. (U) Per reftel, the following is an assessment of Bulgaria's
fiscal transparency.
2. (U) International standards for budget reporting are in place
in Bulgaria, as required by EU membership. Relevant budget
documents can be found on the websites of the Ministry of Finance
and Parliament (the Finance and Budget Committee) during parliament
hearings. The final budget is published in the State Gazette. Data
on budget performance is published monthly, both in hard copy and on
the Internet. The quality of fiscal statistics is generally
reliable. A 2006 Open Budget Initiative review on Bulgaria
recommended enhanced public access to internal budget planning
processes.
3. (U) The EU allocated funds during Bulgaria's pre-accession
period to strengthen inside control mechanisms, draft new
legislation, improve and update existing regulations, and create
strategic plans on managing and planning public finances. A
Dutch-Bulgarian twinning project strengthened the capacity of the
Ministry of Finance to oversee the process of public budgeting, and
further enhanced program budgeting techniques as a way to achieve
more fiscal transparency and accountability within the central and
local governments. Fiscal decentralization is progressing, allowing
local authorities more discretion in, and higher accountability for,
collecting and spending local budgets. An Open Government
Initiative helped re-establish a National Auditor's Office in 1995
in an effort to assist the GOB in strengthening its auditing
systems, which consist of internal controls, supreme audits, and
parliamentary oversight and follow-up.
4. (U) Bulgaria conducts regular Article IV consultations with the
IMF following the Fund's exit in March 2007. Currently, the country
has no special reporting obligations under the IMF's standards and
codes for fiscal transparency.
BEYRLE