1. Introduction
The International Monetary Fund (IMF) is no longer a purely international economic organizationin the way it was. At first, the IMF was established along with the World Bank and theGeneral Agreement on Tariffs and Tradeat the close ofWorld War II in order to provide governments with balance of payments support, but now there’s a doubt that IMF has become a political organizat
Ⅰ. Introduction
Depending on the age of globalization, government as well as companies are becoming competitive in the field of budget system and recognizes the need of practical and effective financial management. The government have been implementing the Line item budgeting system to control strictly the use of budget.
However, the control of these budgets has inhibited the increase in pr
Ⅱ. General Information and Structure of Program Budget System
Government innovation is a global trend. The crux of the government innovation is said that the importance of fiscal reform that has emerged as an important issue than ever before. Effectiveness issue than ev, fiscal reform, transparency, equity and accountability should aim to improve.
Current central government agencies a
non-discretionary impacts
Discretionary fiscal stimulus
Asian Development Bank (2009a) also notes that a country's ability to withstand shocks depends on a set of variables that may either amplify or absorb them.
Countries with strong macroeconomic fundamentals would be better able to withstand or absorb shocks, and those with weak and narrower financial systems, less so.
system the typical worker who reached the system normal retirement age of 65 was expected to live another 12 years. And today the time is getting longer. But the workers in the developed countries are retiring earlier thereby compounding the impact of rising longevity on pension costs.
2) Effect on Public Budgets
Population aging translates directly into a lower ratio of taxpaying workers to