Abstract
Rise in off-budget government programs may cause fiscal instabilities. Evaluation of a country’s public fiscal performance includes a thorough consideration of fiscal risks associated with government budget (Polackova 1998, p. 9).
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Notes
- 1.
Treasury guarantees include repayment guarantees, investment guarantees, credit guarantees, and debt assumptions of PPP projects. They are all examples of explicit CLs.
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Tosunoğlu, Ş. (2020). Management of Contingent Liabilities in Turkey. In: Akdemir, T., Kıral, H. (eds) Public Financial Management Reforms in Turkey: Progress and Challenges, Volume 2. Accounting, Finance, Sustainability, Governance & Fraud: Theory and Application. Springer, Singapore. https://doi.org/10.1007/978-981-15-4226-8_4
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