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Ian W.H. Parry
The United States has pledged to become carbon neutral by 2050, meet sectoral objectives (e.g., for carbon free power, electric vehicles) and encourage greater mitigation among large emitting countries and of international transportation emissions. Fiscal policies at the national, sectoral, and international level could play a critical role in implementing these objectives, along with investment, regulatory, and technology policies. Fiscal instruments are cost-effective, can enhance political acceptability, and do not worsen, or could help alleviate, budgetary pressures. Domestically, a fiscal policy package could contain a mix of economy-wide carbon pricing and revenue-neutral feebates (i.e., tax-subsidy schemes) with the latter reinforcing mitigation in the transport, power, industrial, building, forestry, and agricultural sectors. Internationally, a carbon price floor among large emitters (with flexibility to implement equivalent measures) could effectively scale up global mitigation, while levies/feebates offer a practical approach for reducing maritime and aviation emissions.
Ian W.H. Parry

The United States has pledged to become carbon neutral by 2050, meet sectoral objectives (e.g., for carbon free power, electric vehicles) and encourage greater mitigation among large emitting countries and of international transportation emissions. Fiscal policies at the national, sectoral, and international level could play a critical role in implementing these objectives, along with investment, regulatory, and technology policies. Fiscal instruments are cost-effective, can enhance political acceptability, and do not worsen, or could help alleviate, budgetary pressures. Domestically, a fiscal policy package could contain a mix of economy-wide carbon pricing and revenue-neutral feebates (i.e., tax-subsidy schemes) with the latter reinforcing mitigation in the transport, power, industrial, building, forestry, and agricultural sectors. Internationally, a carbon price floor among large emitters (with flexibility to implement equivalent measures) could effectively scale up global mitigation, while levies/feebates offer a practical approach for reducing maritime and aviation emissions.

International Monetary Fund. European Dept.

energy security, while also advancing Slovakia’s climate mitigation goals, is a key policy priority. The immediate focus should be on mitigating the effects of a potential Russian gas shut-off through securing alternative energy sources, accelerating inventory buildup, collaborating at the EU level, and contingency planning. The authorities’ plans for higher investment in renewables and improved energy efficiency are welcome and should be accelerated to the extent possible, as they will help simultaneously improve energy security and reduce greenhouse gas emissions. To

International Monetary Fund. European Dept.
Slovakia is highly vulnerable to the war in Ukraine, given its geographical proximity, heavy reliance on energy imports from Russia, and high integration into global value chains. The shock occurs against the backdrop of an incomplete recovery from the pandemic, with activity hampered by breakdowns in global supply chains and resurgent infection waves. Growth is projected to slow to 2.2 percent and inflation to surge to over 10 percent in 2022, with sizable downside risks amidst exceptionally large uncertainty.
International Monetary Fund. European Dept.

–7201 E-mail: publications(g>imf.org Web: http://0-www-imf-org.library.svsu.edu Price: $18.00 per printed copy International Monetary Fund Washington, D.C . © 2022 International Monetary Fund Title Page BULGARIA SELECTED ISSUES June 7, 2022 Approved By European Department Prepared By Hajime Takizawa and Iglika Vassileva Contents BULGARIA’S CLIMATE MITIGATION GOALS, CHALLENGES, AND POLICY OPTIONS A. Introduction B. Recent GHG Emissions Trends C. Authorities’ Decarbonization Strategy D. Policy Options E. Conclusion BOXES 1

International Monetary Fund. Asia and Pacific Dept

published and is available on the web through the link: http://0-www-imf-org.library.svsu.edu/external/pubs/ft/scr/2010/cr10229.pdf Technical Assistance : FAD: A technical assistance mission on government finance statistics took place in Seoul during the period November 8–19, 2010. MCM: Remote technical assistance on foreign exchange reserves management was conducted in November 2020. FAD: Remote technical assistance on fiscal policies for achieving Korea’s 2020 climate mitigation goals in November 2021. Statistical Issues As of February 12, 2022 I

International Monetary Fund. Monetary and Capital Markets Department

softening the impact of the crisis may slow the transition—for example, by supporting firms or activities not compatible with long-term climate mitigation goals. At the same time, the current crisis could also present an opportunity to accelerate the transition to a low-carbon economy by inducing structural shifts in consumer and investor preferences toward environmentally friendly products in the event economic agents change their beliefs about the likelihood of other catastrophic events, such as those linked to climate change. 3 In the corporate sector, for example