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Further reform of Hungary's new system for financing local government should strengthen local own- source revenues and should revise the normative grant, simplifying it and making allowances for local governments' revenue- raising capacity.
Modernisation of the public sector, reforming intergovernmental fiscal relations, enhancing the local capacity to implement local strategies, and developing the legislative and institutional framework for efficient delivery of public services are among the biggest challenges in transition economies. Hungary has been a pioneer in local government reform and the Hungary Subnational Development Program (SNDP) proves the value of an integrated approach.
This book illustrates the decade-long transformation of the Hungarian subnational system with a focus on subnational finance. It builds upon policy analyses prepared by local and international specialists and covers various aspects of municipal life: revenue and expenditure assignments, taxation, intergovernmental transfers, strategic planning, outsourcing, public-private partnership, utility regulation, asset and liability management, municipal enterprises, household arrears, project financing, borrowing, and insolvency resolution. Part one is an overview of developments and policy proposals in the 1990s. Part two provides 28 case studies that address: how to enhance the intergovernmental system, how to build local government expertise in strategic management and finance, and how to design a competitive framework for financing subnational governments. Hungary's transition and its innovative and adaptive local governments have proven the merits of fiscal decentralization.