The focus on social inclusion, subject to a hard budget constraint
, arose as a reaction to the country's historic inequality, the trauma of the 1964-85 authoritarian period, and 10 years of hyperinflation (1985-94).
This would make business rates a fully devolved tax and it would introduce a hard budget constraint
into Welsh Government policymaking that is currently lacking.
The firm faces a hard budget constraint
as long as it does not receive support from other organisations to cover its deficit.
It's time for government to face a reality that every family faces -- policymakers must learn to live with a hard budget constraint
The day it will happen a hard budget constraint
will be enforced on the U.
But the IMF clarified that even Russia faced a hard budget constraint
in international finance.
Parastatal reform, through the imposition of a hard budget constraint
on public enterprises, and the privatization of about one-third of the 382 public enterprises, is beginning to generate important improvements in economic efficiency.
As hard budget constraints
limit the scope for the Kyrgyz Government to increase social transfers, the uncertainties surrounding the economic fortunes of countries hosting Kyrgyz labor migrants put at risk these countries continued ability to absorb the migrants.
But, as the private sector develops, SOEs are subjected to hard budget constraints
, and the external capital account is opened, this huge credit mountain will create increasing global financial vulnerability.
The stable Bulgarian lev and the Currency Board is an institution that puts hard budget constraints
Fortunately, capital markets finally stepped in to impose necessary hard budget constraints
16) This difference shows that the decision makers in CD are not under hard budget constraints