Fiscal Government Term Paper
KIMEP University
Public Administration Department
Fiscal Governance Course
Term Paper
Prof.: Francis Amagoh
Prepared by:
Orazalyeva Asel ID: 20102446
Sattay Tolegen ID: 20090436
Sheriyazdan Ruslan ID: 20081215
Turarova Aizhan ID: 20091727
Zhanatkanova Meruyert ID: 20090805
Spring 2012 Problem #1.
The article by IMF is devoted to the financial crisis in Italy and the fiscal decline. There are statistical data, graphs and other information which describes the consequences and outcomes of the crisis to the country.
Concerning the Conditions that contribute to a locality’s fiscal decline we identified the following issues: 1. Economic Vitality is declining.
a. Appraised value of real estate per capita is declining. i. distribution of country concentrations of commercial real estate and institutional-grade commercial real estate is heavily concentrated in a small number of countries. ii. Also, as the key factor for investors who buy real estate s difference between GDP growth in local currency and US dollar, we can say that the difference is too little, which means that the number of investors also decreased sharply.
b. Number and Value of building permits are declining. i. Italy’s construction industry remains depressed. The Italian construction industry association (ANCE) reported that estimates indicate a 4% decrease in 2011 and 3.2 % in 2012. ii. the factors include the reduced credit supply to companies and delays in payment by public bodies.
c. Total population is declining - it is a well-known fact that the population of Italy is in list of top countries with aged population in Europe.
d. Income per capita is declining - Italy is on 43-th place according to World Bank. 2. Financial Independence and Flexibility is being lost.
a. Growing Debt Burden. So, Italy’s public debt reached a new high in the first month of 2012. Overall debt reached an unparalleled 1.94 trillion
Public Administration Department
Fiscal Governance Course
Term Paper
Prof.: Francis Amagoh
Prepared by:
Orazalyeva Asel ID: 20102446
Sattay Tolegen ID: 20090436
Sheriyazdan Ruslan ID: 20081215
Turarova Aizhan ID: 20091727
Zhanatkanova Meruyert ID: 20090805
Spring 2012 Problem #1.
The article by IMF is devoted to the financial crisis in Italy and the fiscal decline. There are statistical data, graphs and other information which describes the consequences and outcomes of the crisis to the country.
Concerning the Conditions that contribute to a locality’s fiscal decline we identified the following issues: 1. Economic Vitality is declining.
a. Appraised value of real estate per capita is declining. i. distribution of country concentrations of commercial real estate and institutional-grade commercial real estate is heavily concentrated in a small number of countries. ii. Also, as the key factor for investors who buy real estate s difference between GDP growth in local currency and US dollar, we can say that the difference is too little, which means that the number of investors also decreased sharply.
b. Number and Value of building permits are declining. i. Italy’s construction industry remains depressed. The Italian construction industry association (ANCE) reported that estimates indicate a 4% decrease in 2011 and 3.2 % in 2012. ii. the factors include the reduced credit supply to companies and delays in payment by public bodies.
c. Total population is declining - it is a well-known fact that the population of Italy is in list of top countries with aged population in Europe.
d. Income per capita is declining - Italy is on 43-th place according to World Bank. 2. Financial Independence and Flexibility is being lost.
a. Growing Debt Burden. So, Italy’s public debt reached a new high in the first month of 2012. Overall debt reached an unparalleled 1.94 trillion