data/processed/reports/cr-2012-004.json

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  "source_sha256": "c48bb6e6881dffb4dacc761cc4e0cd62866c49182b95f5aee20d400caca22c9a",
  "title": "Iceland: Technical Assistance Report on a New Organic Budget Law",
  "language": [
    "English"
  ],
  "authors": [
    {
      "name": "International Monetary Fund",
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      "confidence": 1.0
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  "countries": [
    {
      "name": "Iceland",
      "formal_name": "Iceland",
      "iso3": "ISL",
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      "confidence": 1.0
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  "dates": [
    {
      "type": "publication",
      "start": "2016-12-31",
      "end": "2016-12-31",
      "precision": "day",
      "verbatim": "2016-12-31",
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      "confidence": 0.98
    },
    {
      "type": "imf_index_date",
      "start": "2012-01-12",
      "end": "2012-01-12",
      "precision": "day",
      "verbatim": "2012-01-12T05:00:00Z",
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    {
      "type": "date_mention",
      "start": "2001-01-29",
      "end": "2001-01-29",
      "precision": "day",
      "verbatim": "January 29, 2001",
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          "quote": "January 29, 2001",
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  "metadata": {
    "series": [
      "IMF Staff Country Reports"
    ],
    "series_volume_no": "Country Report No.  2012/004",
    "doi": [],
    "isbn": [],
    "subjects": [
      "Budget planning and preparation",
      "Fiscal policy",
      "Expenditure",
      "Financial statements",
      "Fiscal law",
      "Public financial management (PFM)"
    ],
    "topics": [
      "Fiscal policy and management|Public Financial Management|Budget planning and preparation ",
      " Fiscal policy and management|Public Financial Management ",
      " Fiscal policy and management ",
      " Fiscal policy and management|Expenditure ",
      " Fiscal policy and management ",
      " Fiscal policy and management|Public Financial Management|Fiscal accounting and reporting|Financial statements ",
      " Fiscal policy and management|Public Financial Management|Fiscal accounting and reporting ",
      " Fiscal policy and management|Public Financial Management ",
      " Fiscal policy and management ",
      " Fiscal policy and management|Fiscal law ",
      " Fiscal policy and management ",
      " Fiscal policy and management|Public Financial Management ",
      " Fiscal policy and management ",
      " Fund operations|IMF lending|Overdue financial obligations|Remedial measures ",
      " Fund operations|IMF lending|Overdue financial obligations ",
      " Fund operations|IMF lending ",
      " Fund operations ",
      " Fund structure and governance|Executive Board|Executive Board committees|Committee on the Budget ",
      " Fund structure and governance|Executive Board|Executive Board committees ",
      " Fund structure and governance|Executive Board ",
      " Fund structure and governance ",
      " Fund operations|IMF lending|Charges ",
      " Fund operations|IMF lending ",
      " Fund operations"
    ],
    "keywords": [
      "ISCR,CR,central government,annual budget,operating statement,budget year,balance sheet,Medium-term Fiscal Strategy,permanent secretary,net lending,Budget planning and preparation,Fiscal law,Financial statements,Australia and New Zealand"
    ],
    "description_indexed": "This technical assistance report on Iceland focuses on a new organic budget law (OBL). In designing a new OBL, it is important to preserve good features of Iceland’s current legal framework for budgeting. At the same time, any new OBL should address the key weaknesses in the Financial Reporting Act 1997 that prevent it from providing a credible, integrated framework for budgeting. The institutional coverage of the OBL should be expanded to encompass the whole public sector and incorporate an integrated timetable for the entire budget process.",
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        "name": "Fiscal Affairs Department",
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            "page": 4,
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    "source_page_url": "https://www.imf.org/en/publications/cr/issues/2016/12/31/iceland-technical-assistance-report-on-a-new-organic-budget-law-25529",
    "source_pdf_url": "https://www.imf.org/external/pubs/ft/scr/2012/cr1204.pdf",
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      "text": "The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of Iceland or the Executive Board of the IMF.",
      "verbatim": "The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of Iceland or the Executive Board of the IMF.",
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      "text": "The mission builds upon the findings and recommendations of previous FAD TA missions to Iceland.",
      "verbatim": "The mission builds upon the findings and recommendations of previous FAD TA missions to Iceland.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "text": "In the ten years before the crisis, fiscal policy in Iceland was characterized by pro-cyclicality, weak budget discipline, lack of coordination between levels of government, and inadequate surveillance and management of fiscal risks.",
      "verbatim": "In the ten years before the crisis, fiscal policy in Iceland was characterized by pro-cyclicality, weak budget discipline, lack of coordination between levels of government, and inadequate surveillance and management of fiscal risks.",
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      "text": "Many of these shortcomings can be traced back to weaknesses in the legal framework for budgeting.",
      "verbatim": "Many of these shortcomings can be traced back to weaknesses in the legal framework for budgeting.",
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      "text": "Over the past few years, the exigencies of the crisis have compensated for some of these legal shortcomings and the government has also developed a number of good budgetary practices.",
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      "text": "[1] The Reference Group has been tasked with evaluating the strengths and weakness of the current legal framework and making recommendations on the form and content of a new organic budget law (OBL).",
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      "text": "address the gaps, loopholes, and inconsistencies in the current legal framework that contributed to fiscal indiscipline before the crisis;",
      "verbatim": "address the gaps, loopholes, and inconsistencies in the current legal framework that contributed to fiscal indiscipline before the crisis;",
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      "text": "provide a firm legal foundation for sustainable fiscal policy going forward; and",
      "verbatim": "provide a firm legal foundation for sustainable fiscal policy going forward; and",
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      "text": "However, international accounting standards have moved on and the crisis has revealed the need for more comprehensive and timely information to inform fiscal decisions.",
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      "text": "the law envisages a relatively unconstrained and fragmented budget formulation",
      "verbatim": "the law envisages a relatively unconstrained and fragmented budget formulation",
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    {
      "text": "Iceland has a relatively large municipal and public corporations sector by advanced country standards, and the recent crisis has highlighted the substantial fiscal risks that these sectors can pose to central government.",
      "verbatim": "Iceland has a relatively large municipal and public corporations sector by advanced country standards, and the recent crisis has highlighted the substantial fiscal risks that these sectors can pose to central government.",
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      "text": "Iceland’s previous efforts to introduce a more rules-based approach to fiscal decision-making suffered from a lack of clear grounding in law, weak political commitment from Cabinet and the Althingi, and low visibility with the public.",
      "verbatim": "Iceland’s previous efforts to introduce a more rules-based approach to fiscal decision-making suffered from a lack of clear grounding in law, weak political commitment from Cabinet and the Althingi, and low visibility with the public.",
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      "text": "The mission’s specific findings and recommendations in the above areas are summarized in the rest of this section and discussed in detail in the body of this report.",
      "verbatim": "The mission’s specific findings and recommendations in the above areas are summarized in the rest of this section and discussed in detail in the body of this report.",
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      "text": "While the reporting provisions of the existing law are already relatively good, the new law presents an opportunity to align reporting with the key fiscal risks that Iceland faces today and once again put the country at the forefront of international reporting practice.",
      "verbatim": "While the reporting provisions of the existing law are already relatively good, the new law presents an opportunity to align reporting with the key fiscal risks that Iceland faces today and once again put the country at the forefront of international reporting practice.",
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      "text": "a number of discontinuities that weaken the transparency, discipline, and integrity of the budget process.",
      "verbatim": "a number of discontinuities that weaken the transparency, discipline, and integrity of the budget process.",
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      "text": "Some of the key weaknesses in Iceland’s budgeting system can be traced back to inconsistencies in the budget timetable which are illustrated in Table 1.1.",
      "verbatim": "Some of the key weaknesses in Iceland’s budgeting system can be traced back to inconsistencies in the budget timetable which are illustrated in Table 1.1.",
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      "text": "the annual Budget Bill is based on an outdated macroeconomic forecast from July and",
      "verbatim": "the annual Budget Bill is based on an outdated macroeconomic forecast from July and",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "text": "Despite the above gaps in the legal framework, Iceland has developed a number of good fiscal policy practices over the past decade.",
      "verbatim": "Despite the above gaps in the legal framework, Iceland has developed a number of good fiscal policy practices over the past decade.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "text": "However, these projections are presented to the Althingi alongside the annual budget and therefore play little role in shaping the budget preparation process.",
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      "text": "Other than a requirement that the annual budget provide information about government guarantees, there is no requirement to provide a comprehensive statement of fiscal risks or explore a range of alternative fiscal scenarios.",
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      "text": "These are: (i) a statement of the permanent principles or rules that guide fiscal policymaking and the conditions under which those principles or rules can be modified or suspended; (ii) a requirement that the government state its medium-term fiscal policy objectives and justify these with reference to long-term macroeconomic and fiscal trends and risks; (iii) an obligation to present a medium-term fiscal strategy covering at least a five-year horizon and a medium-term budget framework setting multi-year expenditure limits by ministry; (iv) arrangements for seeking Parliamentary input into and endorsement of the government’s fiscal objectives and expenditure plans at the start of the budget preparation process; and (v) a mechanism for ensuring independent scrutiny of the government’s fiscal policy and performance.",
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          "quote": "These are: (i) a statement of the permanent principles or rules that guide fiscal policymaking and the conditions under which those principles or rules can be modified or suspended; (ii) a requirement that the government state its medium-term fiscal policy objectives and justify these with reference to long-term macroeconomic and fiscal trends and risks; (iii) an obligation to present a medium-term fiscal strategy covering at least a five-year horizon and a medium-term budget framework setting multi-year expenditure limits by ministry; (iv) arrangements for seeking Parliamentary input into and endorsement of the government’s fiscal objectives and expenditure plans at the start of the budget preparation process; and (v) a mechanism for ensuring independent scrutiny of the government’s fiscal policy and performance.",
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    {
      "text": "the requirements of Article 28 provided a foundation for the introduction of medium term “frame budgeting” from the early 2000s, the details of which were elaborated in a 2003 MoF guidance note.",
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    {
      "text": "Further upward adjustment during parliamentary approval and lack of discipline during budget implementation meant that actual current spending exceeded the real growth target in each of the five years prior to the crisis by an average of 11 percent over the period, while transfers exceeded the target by an average of 5 percent (Figure 2.1).",
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      "text": "In practice, the MoF’s attempt to introduce a rules-based fiscal framework without the support of law met with limited success.",
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      "text": "Lack of political commitment to the fiscal framework contributed to chronic fiscal indiscipline in the years preceding the crisis.",
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      "text": "The lack of credibility in the fiscal framework was masked by overall good headline fiscal performance in the run up to the crisis.",
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      "text": "A range of macroeconomic and fiscal scenarios has not featured in the preparation of the medium-term fiscal strategy, and contingency buffers have proven inadequate in the face of macroeconomic shocks, negotiation of wage contracts, subsidies to crisis-hit households, and recapitalization of financial institutions.",
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      "text": "Fiscal risks: There has been limited quantitative analysis of risks to the government’s",
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      "text": "The crisis has revealed other underlying weaknesses in these informal procedures for macro-fiscal policy making.",
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      "text": "The lack of statutory bases for such procedures has made them easier to overlook and disregard under extreme circumstances.",
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      "text": "The weaknesses of the fiscal framework were only exposed with the onset of the crisis, when the fiscal rule was abandoned entirely as revenues collapsed, expenditures spiked, and deficits (excluding bank recapitalization) soared in 2009 (Figure 2.2).",
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      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "text": "fiscal objectives beyond the potential calling of government guarantees has been limited.",
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      "text": "Notwithstanding the significant effort and high quality work that goes into preparation of medium-term fiscal forecasts and budget framework, all the above factors mean that they have not lived up to their intended purpose of providing an agreed framework for the preparation, approval, and execution of budgets across the public sector.",
      "verbatim": "Notwithstanding the significant effort and high quality work that goes into preparation of medium-term fiscal forecasts and budget framework, all the above factors mean that they have not lived up to their intended purpose of providing an agreed framework for the preparation, approval, and execution of budgets across the public sector.",
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      "text": "A procedural rule can cater to both Iceland’s current economic circumstances and long-term fiscal challenges, by leaving it to the government of the day to specify its precise fiscal policy objectives.",
      "verbatim": "A procedural rule can cater to both Iceland’s current economic circumstances and long-term fiscal challenges, by leaving it to the government of the day to specify its precise fiscal policy objectives.",
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      "text": "The 2012 budget proposal already contains a revised and expanded statement of fiscal risks, which is a commendable development.",
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    {
      "text": "The country faces a wide range of risks to its fiscal outlook in the form of macroeconomic volatility, financial instability, loss-making public enterprises, government guarantees, litigation risks, natural disasters, and increasingly public-private partnerships (PPPs).",
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      "text": "7 For a complete discussion on the management of fiscal risks, see; IMF, 2008, Fiscal Risks—Sources, Disclosure, and Management; and Everaert, G., M.",
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      "text": "Another shortcoming of Iceland’s attempts to introduce frame budgeting over the past decade has been the fact that the process takes place entirely within the government.",
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      "text": "Velloso, 2009, Disclosing Fiscal Risks in the Post-Crisis World, Staff Position Note 2009/18.",
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      "text": "a fiscal risk statement showing the impact of alternative economic assumptions and",
      "verbatim": "a fiscal risk statement showing the impact of alternative economic assumptions and",
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      "text": "discrete fiscal risks on the government’s performance against its fiscal targets; and",
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      "text": "enterprises, improving the regulation of PPPs to ensure proper risk-sharing, and making explicit fiscal provision for unavoidable risks.",
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      "text": "However, experience has shown that parliaments often need support from qualified and politically independent bodies to carry out this responsibility.",
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      "text": "However, as a participant in the budget formulation process, Statistics Iceland is not in a position to provide an independent evaluation of either ex ante fiscal policy or ex post fiscal performance.",
      "verbatim": "However, as a participant in the budget formulation process, Statistics Iceland is not in a position to provide an independent evaluation of either ex ante fiscal policy or ex post fiscal performance.",
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      "text": "However, this could be achieved without establishing a permanent institution, such as a fiscal policy council.",
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      "text": "establishing a limited-tenure independent commission to periodically scrutinize an",
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      "text": "At the same time, a number of gaps and weaknesses in the budget provisions of the FRA undermine the credibility of the annual budget:",
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      "text": "However, owing to a combination of weaknesses in the legal",
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      "text": "While Iceland has taken some important steps toward the adoption of a more disciplined, top-down approach to budget preparation, this effort has thus far been confined to the process within the executive and therefore met with limited success.",
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      "text": "owing to the general lack of macro-fiscal content in the Act, no provisions require the",
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      "text": "Between 2004 and 2009, the three-year budget plan included expenditure “frames” by ministry but the coverage has remained limited to the central government budget and there is no reconciliation between this year’s set of expenditure frames and those set in previous years’ budget plans.",
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    {
      "text": "This is more than three times the number of appropriations one finds in other countries that have recently reformed their organic budget laws (Figure 3.2 and Table 3.2).",
      "verbatim": "This is more than three times the number of appropriations one finds in other countries that have recently reformed their organic budget laws (Figure 3.2 and Table 3.2).",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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          "quote": "This is more than three times the number of appropriations one finds in other countries that have recently reformed their organic budget laws (Figure 3.2 and Table 3.2).",
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      "text": "It also complicates budget management for ministries and agencies who would prefer to have some limited flexibility to reallocate resources within the",
      "verbatim": "It also complicates budget management for ministries and agencies who would prefer to have some limited flexibility to reallocate resources within the",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "severity": null,
      "evidence": [
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          "quote": "It also complicates budget management for ministries and agencies who would prefer to have some limited flexibility to reallocate resources within the",
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      "text": "Before the crisis, the government frequently exceeded its Budget partly owing to a lack of adequate provision for contingencies in the annual Budget.",
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      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "evidence": [
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          "quote": "Before the crisis, the government frequently exceeded its Budget partly owing to a lack of adequate provision for contingencies in the annual Budget.",
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      "text": "However this is often considered to be “earmarked” to deal with discretionary increases or other pressures which were foreseen when the Budget was approved.",
      "verbatim": "However this is often considered to be “earmarked” to deal with discretionary increases or other pressures which were foreseen when the Budget was approved.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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          "quote": "However this is often considered to be “earmarked” to deal with discretionary increases or other pressures which were foreseen when the Budget was approved.",
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      "text": "This is important to provide some penalty for “abuse” of the contingency reserve by ministries who “cry wolf” about lacking resources during the year and then underspend their budgets at the end of the year.",
      "verbatim": "This is important to provide some penalty for “abuse” of the contingency reserve by ministries who “cry wolf” about lacking resources during the year and then underspend their budgets at the end of the year.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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          "quote": "This is important to provide some penalty for “abuse” of the contingency reserve by ministries who “cry wolf” about lacking resources during the year and then underspend their budgets at the end of the year.",
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    {
      "text": "They do not, necessarily, reflect the original source of those amendments.",
      "verbatim": "They do not, necessarily, reflect the original source of those amendments.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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    {
      "text": "The lack of an approved operating plan proved an important predictor of whether that agency would overspend its budget during 2009.",
      "verbatim": "The lack of an approved operating plan proved an important predictor of whether that agency would overspend its budget during 2009.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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        {
          "evidence_id": "ev-8c33fe8b85611ecc",
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          "quote": "The lack of an approved operating plan proved an important predictor of whether that agency would overspend its budget during 2009.",
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      "text": "However, further procedural reforms are required to ensure that:",
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      "evidence": [
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    {
      "text": "Under the FRA, the approvals granted through the Budget cover a broad range of government transactions but do not currently cover the liabilities created by public- private partnership (PPP) contracts.",
      "verbatim": "Under the FRA, the approvals granted through the Budget cover a broad range of government transactions but do not currently cover the liabilities created by public- private partnership (PPP) contracts.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "evidence": [
        {
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          "quote": "Under the FRA, the approvals granted through the Budget cover a broad range of government transactions but do not currently cover the liabilities created by public- private partnership (PPP) contracts.",
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      "text": "The FRA also does not require the government to seek the Althingi’s approval for multi-year contracts or other commitments, though it does require them to be disclosed in the notes to the Budget.",
      "verbatim": "The FRA also does not require the government to seek the Althingi’s approval for multi-year contracts or other commitments, though it does require them to be disclosed in the notes to the Budget.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "evidence": [
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          "quote": "The FRA also does not require the government to seek the Althingi’s approval for multi-year contracts or other commitments, though it does require them to be disclosed in the notes to the Budget.",
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      "text": "However, without the full support of the basic law, there is a limit to what can be achieved though these kinds of stop-gap measures.",
      "verbatim": "However, without the full support of the basic law, there is a limit to what can be achieved though these kinds of stop-gap measures.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "evidence": [
        {
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          "quote": "However, without the full support of the basic law, there is a limit to what can be achieved though these kinds of stop-gap measures.",
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      "text": "In the rare cases where ministries or agencies are identified as having engaged in unauthorized overspending, the Act and associated regulations provide relatively few credible or effective sanctions.",
      "verbatim": "In the rare cases where ministries or agencies are identified as having engaged in unauthorized overspending, the Act and associated regulations provide relatively few credible or effective sanctions.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "evidence": [
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          "quote": "In the rare cases where ministries or agencies are identified as having engaged in unauthorized overspending, the Act and associated regulations provide relatively few credible or effective sanctions.",
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      "text": "The FRA contains some significant loopholes that enable the government to exceed the annual Budget voted by the Althingi with effective impunity.",
      "verbatim": "The FRA contains some significant loopholes that enable the government to exceed the annual Budget voted by the Althingi with effective impunity.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "evidence": [
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          "quote": "The FRA contains some significant loopholes that enable the government to exceed the annual Budget voted by the Althingi with effective impunity.",
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    {
      "text": "While recent governments have not taken advantage of some of these loopholes, in principle the FRA provides five different ways in which a ministry or agency can overspend its annual appropriation without being sanctioned:",
      "verbatim": "While recent governments have not taken advantage of some of these loopholes, in principle the FRA provides five different ways in which a ministry or agency can overspend its annual appropriation without being sanctioned:",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "evidence": [
        {
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          "quote": "While recent governments have not taken advantage of some of these loopholes, in principle the FRA provides five different ways in which a ministry or agency can overspend its annual appropriation without being sanctioned:",
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    {
      "text": "However, much of the overspending is the result of above-budget increases in civil service salaries and household transfers as part of wage agreements negotiated with social partners in the middle of the budget year.",
      "verbatim": "However, much of the overspending is the result of above-budget increases in civil service salaries and household transfers as part of wage agreements negotiated with social partners in the middle of the budget year.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "evidence": [
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          "quote": "However, much of the overspending is the result of above-budget increases in civil service salaries and household transfers as part of wage agreements negotiated with social partners in the middle of the budget year.",
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      "text": "While budget discipline has improved since the crisis, the average annual overspend against the budget has remained high by advanced country standards.",
      "verbatim": "While budget discipline has improved since the crisis, the average annual overspend against the budget has remained high by advanced country standards.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "severity": null,
      "evidence": [
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          "quote": "While budget discipline has improved since the crisis, the average annual overspend against the budget has remained high by advanced country standards.",
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    {
      "text": "However, the inefficient planning and management of cash by the government can impose costs on the taxpayer in the form of (i) lower interest on government cash deposits; (ii) higher borrowing costs created by liquidity shortfalls; and (iii) opportunity costs created by delays in payment of invoices.",
      "verbatim": "However, the inefficient planning and management of cash by the government can impose costs on the taxpayer in the form of (i) lower interest on government cash deposits; (ii) higher borrowing costs created by liquidity shortfalls; and (iii) opportunity costs created by delays in payment of invoices.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "evidence": [
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          "quote": "However, the inefficient planning and management of cash by the government can impose costs on the taxpayer in the form of (i) lower interest on government cash deposits; (ii) higher borrowing costs created by liquidity shortfalls; and (iii) opportunity costs created by delays in payment of invoices.",
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    {
      "text": "However, at the end of 2010, about 130 of budgetary entities had positive carryovers of more than 10 percent of their",
      "verbatim": "However, at the end of 2010, about 130 of budgetary entities had positive carryovers of more than 10 percent of their",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "evidence": [
        {
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          "page": 55,
          "quote": "However, at the end of 2010, about 130 of budgetary entities had positive carryovers of more than 10 percent of their",
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    {
      "text": "While the stock of carryovers has diminished in recent years, their size as a share of some entities’ budgets remains a concern from a budget management point of view.",
      "verbatim": "While the stock of carryovers has diminished in recent years, their size as a share of some entities’ budgets remains a concern from a budget management point of view.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "severity": null,
      "evidence": [
        {
          "evidence_id": "ev-7d73394cdb461c6c",
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          "quote": "While the stock of carryovers has diminished in recent years, their size as a share of some entities’ budgets remains a concern from a budget management point of view.",
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    {
      "text": "Even with this lower stock of and tighter limits on carryovers, the process of crediting underspends to each ministry and agency complicates the accounting process and also weakens annual budget discipline at the (all important) margin.",
      "verbatim": "Even with this lower stock of and tighter limits on carryovers, the process of crediting underspends to each ministry and agency complicates the accounting process and also weakens annual budget discipline at the (all important) margin.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "severity": null,
      "evidence": [
        {
          "evidence_id": "ev-716810ce81dfbcde",
          "page": 56,
          "quote": "Even with this lower stock of and tighter limits on carryovers, the process of crediting underspends to each ministry and agency complicates the accounting process and also weakens annual budget discipline at the (all important) margin.",
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      "text": "However, these countries also tend to limit the types of expenditures that can be carried over and cap the total stock of accumulated carryovers at around 3 percent.",
      "verbatim": "However, these countries also tend to limit the types of expenditures that can be carried over and cap the total stock of accumulated carryovers at around 3 percent.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "severity": null,
      "evidence": [
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          "quote": "However, these countries also tend to limit the types of expenditures that can be carried over and cap the total stock of accumulated carryovers at around 3 percent.",
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      "extraction_method": "diagnostic_signal_sentence",
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    {
      "text": "The administrative restrictions on carryovers introduced by the MoF during the crisis remain at the permissive end of where most countries strike the balance between discouraging year-end splurges and preserving the annuality of the budget process.",
      "verbatim": "The administrative restrictions on carryovers introduced by the MoF during the crisis remain at the permissive end of where most countries strike the balance between discouraging year-end splurges and preserving the annuality of the budget process.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "severity": null,
      "evidence": [
        {
          "evidence_id": "ev-cc83ff1613a93d9f",
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          "quote": "The administrative restrictions on carryovers introduced by the MoF during the crisis remain at the permissive end of where most countries strike the balance between discouraging year-end splurges and preserving the annuality of the budget process.",
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    {
      "text": "Article 33 permits the MoF to make payments that have not been authorized in the",
      "verbatim": "Article 33 permits the MoF to make payments that have not been authorized in the",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "evidence": [
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          "quote": "Article 33 permits the MoF to make payments that have not been authorized in the",
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    {
      "text": "This means that individual ministries and agencies do not know their full resource envelope until after the budget is approved.",
      "verbatim": "This means that individual ministries and agencies do not know their full resource envelope until after the budget is approved.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "severity": null,
      "evidence": [
        {
          "evidence_id": "ev-d46c7a43add7a453",
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          "quote": "This means that individual ministries and agencies do not know their full resource envelope until after the budget is approved.",
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    {
      "text": "For example, Finland’s 1988 State Budget Act distinguishes between “fixed” and “estimated” appropriations while France’s 2005 Organic Budget Law distinguishes between “cash-limited” and “mandatory” appropriations.",
      "verbatim": "For example, Finland’s 1988 State Budget Act distinguishes between “fixed” and “estimated” appropriations while France’s 2005 Organic Budget Law distinguishes between “cash-limited” and “mandatory” appropriations.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "severity": null,
      "evidence": [
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          "evidence_id": "ev-a696b253c9d87284",
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          "quote": "For example, Finland’s 1988 State Budget Act distinguishes between “fixed” and “estimated” appropriations while France’s 2005 Organic Budget Law distinguishes between “cash-limited” and “mandatory” appropriations.",
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      "extraction_method": "diagnostic_signal_sentence",
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    {
      "text": "It also greatly weakens the effectiveness of the relative limited sanctions provisions included in the legislation by allowing the government to normalize any overspending against the budget ex post .",
      "verbatim": "It also greatly weakens the effectiveness of the relative limited sanctions provisions included in the legislation by allowing the government to normalize any overspending against the budget ex post .",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "severity": null,
      "evidence": [
        {
          "evidence_id": "ev-5d8bc031d3418e3a",
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          "quote": "It also greatly weakens the effectiveness of the relative limited sanctions provisions included in the legislation by allowing the government to normalize any overspending against the budget ex post .",
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      "extraction_method": "diagnostic_signal_sentence",
      "review_status": "unreviewed",
      "observation_id": "cr-2012-004-obs-0077"
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    {
      "text": "While some countries do allow the retrospective authorization of some expenditure through a Supplementary Budget, this authorization is typically limited to a handful of mandatory items.",
      "verbatim": "While some countries do allow the retrospective authorization of some expenditure through a Supplementary Budget, this authorization is typically limited to a handful of mandatory items.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "severity": null,
      "evidence": [
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          "evidence_id": "ev-8e0c8fe0c56f2ecb",
          "page": 58,
          "quote": "While some countries do allow the retrospective authorization of some expenditure through a Supplementary Budget, this authorization is typically limited to a handful of mandatory items.",
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      "extraction_method": "diagnostic_signal_sentence",
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      "observation_id": "cr-2012-004-obs-0078"
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    {
      "text": "However, the range of sanctions on those whose budgets are “repeatedly or considerably in excess of budget limits” is limited to an internal written reprimand from their parent ministry on the one hand or temporary or permanent relief of duty on the other.",
      "verbatim": "However, the range of sanctions on those whose budgets are “repeatedly or considerably in excess of budget limits” is limited to an internal written reprimand from their parent ministry on the one hand or temporary or permanent relief of duty on the other.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "severity": null,
      "evidence": [
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          "evidence_id": "ev-0a7bf5499b37d3b5",
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          "quote": "However, the range of sanctions on those whose budgets are “repeatedly or considerably in excess of budget limits” is limited to an internal written reprimand from their parent ministry on the one hand or temporary or permanent relief of duty on the other.",
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      "observation_id": "cr-2012-004-obs-0079"
    },
    {
      "text": "The most effective OBLs place the judgment as to whether overspending has taken place in the hands of the National Audit Office (NAO) through its examination of the government accounts.",
      "verbatim": "The most effective OBLs place the judgment as to whether overspending has taken place in the hands of the National Audit Office (NAO) through its examination of the government accounts.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "text": "Fiscal reporting in other advanced economies has also moved on and in some areas now surpasses Iceland’s in quality, for example in the discussion of fiscal risks and the long-term sustainability of public finances.",
      "verbatim": "Fiscal reporting in other advanced economies has also moved on and in some areas now surpasses Iceland’s in quality, for example in the discussion of fiscal risks and the long-term sustainability of public finances.",
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      "text": "Much has changed in the years since the 1997 FRA was developed, however, and there are now many opportunities for improvements in fiscal reporting .",
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      "text": "These things may be taken for granted in Iceland, but there are many advanced countries where they are lacking.",
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      "text": "The new OBL presents an opportunity to align fiscal reporting with the key fiscal risks that Iceland faces today and once again put the country at the forefront of international reporting practice .",
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      "text": "This risk has been underlined by the global financial crisis, where the liabilities of entities defined as outside the government have either helped to precipitate crisis (e.g., in Greece) or made the fiscal effects of the crisis worse (e.g., in Portugal).",
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      "text": "Iceland’s choice also finds support in the practice of some other countries with advanced financial reporting, including France and Sweden and to a lesser extent Canada and the United States (Table 5.1).",
      "verbatim": "Iceland’s choice also finds support in the practice of some other countries with advanced financial reporting, including France and Sweden and to a lesser extent Canada and the United States (Table 5.1).",
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      "text": "Not consolidating these entities creates a misleading picture of the government’s financial performance, its assets and liabilities, and the risks it faces.",
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      "text": "Reporting only the government’s small equity investment in these highly leveraged enterprises does not reveal the size of the associated risks and opportunities (Figure 5.2).",
      "verbatim": "Reporting only the government’s small equity investment in these highly leveraged enterprises does not reveal the size of the associated risks and opportunities (Figure 5.2).",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "text": "[14] Finally, although fiscal statistics can provide information on public finances not provided by audited financial statements, statistical standards do not provide for consolidated information on central government and the entities it controls.",
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      "text": "Iceland’s accounting and statistics are better than many countries’ in this respect, but they could be improved by recognizing certain additional assets and liabilities on the balance sheet and by providing information on long-term future cash flows associated with tax revenue and social spending.",
      "verbatim": "Iceland’s accounting and statistics are better than many countries’ in this respect, but they could be improved by recognizing certain additional assets and liabilities on the balance sheet and by providing information on long-term future cash flows associated with tax revenue and social spending.",
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      "text": "That would create six or eight subsectors, however, which may be too many.",
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      "text": "Although these governments have found the valuation of some assets difficult on conceptual or practical grounds (and a few assets are recognized at a nominal value, such as $1), there is now much experience, as well as standards, to draw on.",
      "verbatim": "Although these governments have found the valuation of some assets difficult on conceptual or practical grounds (and a few assets are recognized at a nominal value, such as $1), there is now much experience, as well as standards, to draw on.",
      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "text": "In considering exactly how to proceed in this area, the government can draw on the experience of the other countries listed in Table 5.2, (some of which do not budget on the same basis as they prepare accounts), as well as that of Icelandic municipalities (which do).",
      "verbatim": "In considering exactly how to proceed in this area, the government can draw on the experience of the other countries listed in Table 5.2, (some of which do not budget on the same basis as they prepare accounts), as well as that of Icelandic municipalities (which do).",
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      "text": "One reason for its approach is perhaps that the current accounting system does not allow the government also to recognize the assets created by those contracts.",
      "verbatim": "One reason for its approach is perhaps that the current accounting system does not allow the government also to recognize the assets created by those contracts.",
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      "text": "The approach of countries such as Australia and the United Kingdom that recognize liabilities related to PPPs on their balance sheets is likely to be more effective in ensuring that PPP commitments are affordable and represent value for money.",
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      "text": "The current treatment of interest costs, leases, and PPPs raises the question, however, whether the",
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      "text": "Under these circumstances, introducing a numerical fiscal rule in the OBL would tend to be either excessively stringent in the long run or provide insufficient adjustment in the short-to-medium-term.",
      "verbatim": "Under these circumstances, introducing a numerical fiscal rule in the OBL would tend to be either excessively stringent in the long run or provide insufficient adjustment in the short-to-medium-term.",
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      "text": "Efforts to incorporate some countercyclical features into the above fiscal indicators would typically require one to estimate the output gap, which in Iceland has proven to be a major technical challenge given the structural changes of the economy and asset price distortions prior to the crisis and the severe contraction of potential output during the crisis.",
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      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "text": "Experience with fiscal frameworks suggests that the most effective and durable fiscal indicators:",
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      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "text": "However, greater flexibility may come at the expense of less credibility, as these indicators could lead to excessively loose fiscal policy at times during the cycle.",
      "verbatim": "However, greater flexibility may come at the expense of less credibility, as these indicators could lead to excessively loose fiscal policy at times during the cycle.",
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      "text": "However, simple expenditure ceilings are not anchored in a target for the deficit or debt, which could lead to significant increase in deficits and debt without triggering a policy response.",
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      "text": "The indicator is relatively simple as it does not rely on any specific measure of the output gap.",
      "verbatim": "The indicator is relatively simple as it does not rely on any specific measure of the output gap.",
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      "text": "However, unlike the expenditure limit, they require abrupt spending adjustment under all shocks, which undermines medium-term planning.",
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      "topic": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
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      "text": "However, the augmented growth-based balance objective is more likely to preserve sustainability due to its quick reaction to potential slippage in the previous year.",
      "verbatim": "However, the augmented growth-based balance objective is more likely to preserve sustainability due to its quick reaction to potential slippage in the previous year.",
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      "text": "However, this rapid adjustment comes at the expense of economic stability, which is better preserved under a rolling 7-year surplus.",
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      "text": "performance against the objective (without complex cyclical adjustment calculations or judgments about output gap,) and their ability to promote multi-year expenditure planning by preventing sudden, large (1.5 percent of GDP per year) adjustment in primary expenditure.",
      "verbatim": "performance against the objective (without complex cyclical adjustment calculations or judgments about output gap,) and their ability to promote multi-year expenditure planning by preventing sudden, large (1.5 percent of GDP per year) adjustment in primary expenditure.",
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      "text": "However, with the pressures of the crisis abating, there is a need to develop a new organic budget law to preserve fiscal discipline, restore fiscal sustainability, and prevent a reversion to the more permissive practices of the past.",
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      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0001"
    },
    {
      "text": "At the same time, any new OBL should address the key weaknesses in the FRA that prevent it from providing a credible, integrated framework for budgeting.",
      "verbatim": "At the same time, any new OBL should address the key weaknesses in the FRA that prevent it from providing a credible, integrated framework for budgeting.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-1af4236e6e050b9b",
          "page": 12,
          "quote": "At the same time, any new OBL should address the key weaknesses in the FRA that prevent it from providing a credible, integrated framework for budgeting.",
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        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0002"
    },
    {
      "text": "Budget Formulation and Approval: the OBL should promote a more disciplined",
      "verbatim": "Budget Formulation and Approval: the OBL should promote a more disciplined",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-bc15baad4afb9776",
          "page": 12,
          "quote": "Budget Formulation and Approval: the OBL should promote a more disciplined",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0003"
    },
    {
      "text": "Legal Construction: the institutional coverage of the OBL should be expanded to",
      "verbatim": "Legal Construction: the institutional coverage of the OBL should be expanded to",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-636e490dca81003f",
          "page": 12,
          "quote": "Legal Construction: the institutional coverage of the OBL should be expanded to",
          "source": "document"
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      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0004"
    },
    {
      "text": "Macro-fiscal Policymaking: the OBL should incorporate a set of fiscal responsibility",
      "verbatim": "Macro-fiscal Policymaking: the OBL should incorporate a set of fiscal responsibility",
      "actor": null,
      "priority": null,
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      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-d08c8c1f9811da97",
          "page": 12,
          "quote": "Macro-fiscal Policymaking: the OBL should incorporate a set of fiscal responsibility",
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        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
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      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0005"
    },
    {
      "text": "To addresses these weaknesses and reflect the lessons from international experience with budget system laws, Iceland’s new OBL should incorporate the following reforms:",
      "verbatim": "To addresses these weaknesses and reflect the lessons from international experience with budget system laws, Iceland’s new OBL should incorporate the following reforms:",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-21a331f6420ec18d",
          "page": 12,
          "quote": "To addresses these weaknesses and reflect the lessons from international experience with budget system laws, Iceland’s new OBL should incorporate the following reforms:",
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      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0006"
    },
    {
      "text": "Budget Execution and Treasury Management: the OBL should ensure the annual",
      "verbatim": "Budget Execution and Treasury Management: the OBL should ensure the annual",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-466e63112640a4ba",
          "page": 13,
          "quote": "Budget Execution and Treasury Management: the OBL should ensure the annual",
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        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0007"
    },
    {
      "text": "Finally, the law should attempt to integrate the timetables for, and strengthen the interactions between, the four main phases of the budgeting cycle: fiscal policymaking, budget formulation, budget execution, and accounting.",
      "verbatim": "Finally, the law should attempt to integrate the timetables for, and strengthen the interactions between, the four main phases of the budgeting cycle: fiscal policymaking, budget formulation, budget execution, and accounting.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-a6e89a1b81c5a6ff",
          "page": 13,
          "quote": "Finally, the law should attempt to integrate the timetables for, and strengthen the interactions between, the four main phases of the budgeting cycle: fiscal policymaking, budget formulation, budget execution, and accounting.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
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      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0008"
    },
    {
      "text": "Fiscal Reporting: the OBL should ensure the government is held to account for its",
      "verbatim": "Fiscal Reporting: the OBL should ensure the government is held to account for its",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-63cf69fa569c714d",
          "page": 13,
          "quote": "Fiscal Reporting: the OBL should ensure the government is held to account for its",
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        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0009"
    },
    {
      "text": "In designing the overall architecture of the OBL, the government should aim for a single integrated act that applies to all public institutions and covers all phases of the budget cycle.",
      "verbatim": "In designing the overall architecture of the OBL, the government should aim for a single integrated act that applies to all public institutions and covers all phases of the budget cycle.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-1c18046a363efe18",
          "page": 13,
          "quote": "In designing the overall architecture of the OBL, the government should aim for a single integrated act that applies to all public institutions and covers all phases of the budget cycle.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0010"
    },
    {
      "text": "The OBL should also take a holistic view of the budgeting system and address the gaps in the current legal framework in the areas of macro-fiscal policy and budget formulation.",
      "verbatim": "The OBL should also take a holistic view of the budgeting system and address the gaps in the current legal framework in the areas of macro-fiscal policy and budget formulation.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-f8de727c1448f588",
          "page": 13,
          "quote": "The OBL should also take a holistic view of the budgeting system and address the gaps in the current legal framework in the areas of macro-fiscal policy and budget formulation.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0011"
    },
    {
      "text": "The macro-fiscal section of the OBL should address this by:",
      "verbatim": "The macro-fiscal section of the OBL should address this by:",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-f80dc9ee9023083f",
          "page": 13,
          "quote": "The macro-fiscal section of the OBL should address this by:",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0012"
    },
    {
      "text": "To provide a more transparent and credible framework for macroeconomic and fiscal policymaking, the OBL should include a comprehensive set of fiscal responsibility provisions.",
      "verbatim": "To provide a more transparent and credible framework for macroeconomic and fiscal policymaking, the OBL should include a comprehensive set of fiscal responsibility provisions.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-a402f4e60eb29e83",
          "page": 13,
          "quote": "To provide a more transparent and credible framework for macroeconomic and fiscal policymaking, the OBL should include a comprehensive set of fiscal responsibility provisions.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0013"
    },
    {
      "text": "To ensure that the government’s fiscal objectives shape the formulation of the annual Budget, the new OBL should also institutionalize a more comprehensive, orderly, and policy-oriented approach to budget preparation and approval.",
      "verbatim": "To ensure that the government’s fiscal objectives shape the formulation of the annual Budget, the new OBL should also institutionalize a more comprehensive, orderly, and policy-oriented approach to budget preparation and approval.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-43447ab47fb3eb8a",
          "page": 14,
          "quote": "To ensure that the government’s fiscal objectives shape the formulation of the annual Budget, the new OBL should also institutionalize a more comprehensive, orderly, and policy-oriented approach to budget preparation and approval.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0014"
    },
    {
      "text": "The main improvements that should be reflected in the reporting section of a new OBL are to:",
      "verbatim": "The main improvements that should be reflected in the reporting section of a new OBL are to:",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-3356d9091b159009",
          "page": 15,
          "quote": "The main improvements that should be reflected in the reporting section of a new OBL are to:",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0015"
    },
    {
      "text": "However, it does include a number of gaps and inconsistencies that should be addressed as part of any comprehensive reform.",
      "verbatim": "However, it does include a number of gaps and inconsistencies that should be addressed as part of any comprehensive reform.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-7f06c601d7088a2e",
          "page": 16,
          "quote": "However, it does include a number of gaps and inconsistencies that should be addressed as part of any comprehensive reform.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0016"
    },
    {
      "text": "In particular, there is a need to revisit:",
      "verbatim": "In particular, there is a need to revisit:",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-62547a06e66ead3d",
          "page": 16,
          "quote": "In particular, there is a need to revisit:",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0017"
    },
    {
      "text": "The impact of the crisis has highlighted the risks that municipalities and public corporations can pose to the central government finances and the need to enhance central oversight of and coordination with these sectors (see Chapter V).",
      "verbatim": "The impact of the crisis has highlighted the risks that municipalities and public corporations can pose to the central government finances and the need to enhance central oversight of and coordination with these sectors (see Chapter V).",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-6c3fa6707e59c73b",
          "page": 17,
          "quote": "The impact of the crisis has highlighted the risks that municipalities and public corporations can pose to the central government finances and the need to enhance central oversight of and coordination with these sectors (see Chapter V).",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0018"
    },
    {
      "text": "The new OBL should also look to strengthen public financial management at all phases of the budgeting cycle.",
      "verbatim": "The new OBL should also look to strengthen public financial management at all phases of the budgeting cycle.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-6a2aa813574cad7a",
          "page": 17,
          "quote": "The new OBL should also look to strengthen public financial management at all phases of the budgeting cycle.",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0019"
    },
    {
      "text": "The provisions of the organic budget law should apply to the whole public sector including central government, municipalities, and financial and nonfinancial public corporations.",
      "verbatim": "The provisions of the organic budget law should apply to the whole public sector including central government, municipalities, and financial and nonfinancial public corporations.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-70a40c7976f7d197",
          "page": 17,
          "quote": "The provisions of the organic budget law should apply to the whole public sector including central government, municipalities, and financial and nonfinancial public corporations.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0020"
    },
    {
      "text": "In particular, the OBL should look to raise the cost to government of deviating from its stated fiscal objectives by:",
      "verbatim": "In particular, the OBL should look to raise the cost to government of deviating from its stated fiscal objectives by:",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-c5f901307b66019d",
          "page": 18,
          "quote": "In particular, the OBL should look to raise the cost to government of deviating from its stated fiscal objectives by:",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0021"
    },
    {
      "text": "The OBL should apply to the whole of the budget cycle and the body of the act should be organized around the four key phases: macroeconomic and fiscal policy; budgeting formulation and approval; budget execution and treasury management; and accounting, reporting, and audit.",
      "verbatim": "The OBL should apply to the whole of the budget cycle and the body of the act should be organized around the four key phases: macroeconomic and fiscal policy; budgeting formulation and approval; budget execution and treasury management; and accounting, reporting, and audit.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-bddea89d655f4793",
          "page": 19,
          "quote": "The OBL should apply to the whole of the budget cycle and the body of the act should be organized around the four key phases: macroeconomic and fiscal policy; budgeting formulation and approval; budget execution and treasury management; and accounting, reporting, and audit.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0022"
    },
    {
      "text": "Many of this report’s recommendations therefore relate to the need to integrate the timetables for, and strengthen the interactions between the various phases of the budgeting cycle.",
      "verbatim": "Many of this report’s recommendations therefore relate to the need to integrate the timetables for, and strengthen the interactions between the various phases of the budgeting cycle.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-bdaadc11a5ab1963",
          "page": 21,
          "quote": "Many of this report’s recommendations therefore relate to the need to integrate the timetables for, and strengthen the interactions between the various phases of the budgeting cycle.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0023"
    },
    {
      "text": "The OBL should prescribe a new and better integrated timetable for the budget process in line with that proposed in Table 1.2.",
      "verbatim": "The OBL should prescribe a new and better integrated timetable for the budget process in line with that proposed in Table 1.2.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-8e2803c02bd3845a",
          "page": 21,
          "quote": "The OBL should prescribe a new and better integrated timetable for the budget process in line with that proposed in Table 1.2.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
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      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0024"
    },
    {
      "text": "A comprehensive OBL should contain all the key elements of a modern macro-fiscal framework.",
      "verbatim": "A comprehensive OBL should contain all the key elements of a modern macro-fiscal framework.",
      "actor": null,
      "priority": null,
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      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
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          "page": 24,
          "quote": "A comprehensive OBL should contain all the key elements of a modern macro-fiscal framework.",
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        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0025"
    },
    {
      "text": "The provisions should include:",
      "verbatim": "The provisions should include:",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-2faf77cb37b6dbca",
          "page": 27,
          "quote": "The provisions should include:",
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        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0026"
    },
    {
      "text": "A key decision that needs to be taken at this stage is whether these rules should be:",
      "verbatim": "A key decision that needs to be taken at this stage is whether these rules should be:",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-f3b4440a99368a2b",
          "page": 28,
          "quote": "A key decision that needs to be taken at this stage is whether these rules should be:",
          "source": "document"
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      ],
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      "extraction_method": "explicit_recommendation_modal",
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      "recommendation_type": "normative_modal_candidate",
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      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0027"
    },
    {
      "text": "The macro-fiscal section of the law should begin with a statement of the principles and rules that will guide fiscal policy-making in Iceland.",
      "verbatim": "The macro-fiscal section of the law should begin with a statement of the principles and rules that will guide fiscal policy-making in Iceland.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-9b5236cbe6c87488",
          "page": 28,
          "quote": "The macro-fiscal section of the law should begin with a statement of the principles and rules that will guide fiscal policy-making in Iceland.",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0028"
    },
    {
      "text": "The OBL should include a procedural fiscal rule anchored in a set of permanent principles for fiscal policymaking.",
      "verbatim": "The OBL should include a procedural fiscal rule anchored in a set of permanent principles for fiscal policymaking.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-a996483710fe1b74",
          "page": 29,
          "quote": "The OBL should include a procedural fiscal rule anchored in a set of permanent principles for fiscal policymaking.",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
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      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0029"
    },
    {
      "text": "The statement should be based on an updated macroeconomic and fiscal forecast and set out how the government will adhere to the fiscal policy principles in the OBL over the course of the Parliament.",
      "verbatim": "The statement should be based on an updated macroeconomic and fiscal forecast and set out how the government will adhere to the fiscal policy principles in the OBL over the course of the Parliament.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-c455afd1ba05afac",
          "page": 29,
          "quote": "The statement should be based on an updated macroeconomic and fiscal forecast and set out how the government will adhere to the fiscal policy principles in the OBL over the course of the Parliament.",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0030"
    },
    {
      "text": "To ensure consistency between the principles set out in the OBL and the actual fiscal policy of the government of the day, there should be a requirement that the government state its fiscal policy objectives at the outset of a Parliamentary term .",
      "verbatim": "To ensure consistency between the principles set out in the OBL and the actual fiscal policy of the government of the day, there should be a requirement that the government state its fiscal policy objectives at the outset of a Parliamentary term .",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-1ebb2714f355b46d",
          "page": 29,
          "quote": "To ensure consistency between the principles set out in the OBL and the actual fiscal policy of the government of the day, there should be a requirement that the government state its fiscal policy objectives at the outset of a Parliamentary term .",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0031"
    },
    {
      "text": "As in other provisions of the OBL, the scope of the government’s fiscal policy objectives should be defined as broadly as possible .",
      "verbatim": "As in other provisions of the OBL, the scope of the government’s fiscal policy objectives should be defined as broadly as possible .",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-41a61665c26e7bdd",
          "page": 30,
          "quote": "As in other provisions of the OBL, the scope of the government’s fiscal policy objectives should be defined as broadly as possible .",
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        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0032"
    },
    {
      "text": "In the event of a crisis or significant changes in the long-term economic outlook for which there is sufficient evidence, the government should be allowed to amend its Statement of Fiscal Policy with the Althingi’s approval.",
      "verbatim": "In the event of a crisis or significant changes in the long-term economic outlook for which there is sufficient evidence, the government should be allowed to amend its Statement of Fiscal Policy with the Althingi’s approval.",
      "actor": null,
      "priority": null,
      "timeframe": "long-term",
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-9ce4ee2e6bdf53ac",
          "page": 30,
          "quote": "In the event of a crisis or significant changes in the long-term economic outlook for which there is sufficient evidence, the government should be allowed to amend its Statement of Fiscal Policy with the Althingi’s approval.",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0033"
    },
    {
      "text": "The Althingi should be able to draw on independent expertise regarding the consistency of the Statement with the OBL fiscal principles (see Recommendation 2.8).",
      "verbatim": "The Althingi should be able to draw on independent expertise regarding the consistency of the Statement with the OBL fiscal principles (see Recommendation 2.8).",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-43ccc979cf497e8a",
          "page": 30,
          "quote": "The Althingi should be able to draw on independent expertise regarding the consistency of the Statement with the OBL fiscal principles (see Recommendation 2.8).",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0034"
    },
    {
      "text": "The Althingi should provide an opinion on the Statement of Fiscal Policy and, where appropriate, propose amendments.",
      "verbatim": "The Althingi should provide an opinion on the Statement of Fiscal Policy and, where appropriate, propose amendments.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-35827ba7cf4e5a75",
          "page": 30,
          "quote": "The Althingi should provide an opinion on the Statement of Fiscal Policy and, where appropriate, propose amendments.",
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        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0035"
    },
    {
      "text": "The institutional coverage should encompass either the general government or public sector to enhance fiscal coordination between levels of government and improve surveillance of the fiscal risks posed by public enterprises.",
      "verbatim": "The institutional coverage should encompass either the general government or public sector to enhance fiscal coordination between levels of government and improve surveillance of the fiscal risks posed by public enterprises.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-09e4e78b61d86933",
          "page": 30,
          "quote": "The institutional coverage should encompass either the general government or public sector to enhance fiscal coordination between levels of government and improve surveillance of the fiscal risks posed by public enterprises.",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
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      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0036"
    },
    {
      "text": "The statement should also contain precise information about which fiscal indicators will be used to set the objectives, how these indicators are measured, and which sources of data will be used should also be contained in the statement.",
      "verbatim": "The statement should also contain precise information about which fiscal indicators will be used to set the objectives, how these indicators are measured, and which sources of data will be used should also be contained in the statement.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-fb118e4b2bc73d6b",
          "page": 30,
          "quote": "The statement should also contain precise information about which fiscal indicators will be used to set the objectives, how these indicators are measured, and which sources of data will be used should also be contained in the statement.",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0037"
    },
    {
      "text": "To enable Parliament and the public to hold the government to account for its fiscal performance, the Statement should set out the numerical fiscal objectives that the government intends to achieve over its tenure .",
      "verbatim": "To enable Parliament and the public to hold the government to account for its fiscal performance, the Statement should set out the numerical fiscal objectives that the government intends to achieve over its tenure .",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-d11aa10a92ecb1a2",
          "page": 30,
          "quote": "To enable Parliament and the public to hold the government to account for its fiscal performance, the Statement should set out the numerical fiscal objectives that the government intends to achieve over its tenure .",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0038"
    },
    {
      "text": "To prevent the government from “shopping” for fiscal indicators at a later stage, the statement should specify ex ante the precise indicators and data sources to be used to measure performance against the government’s fiscal objectives.",
      "verbatim": "To prevent the government from “shopping” for fiscal indicators at a later stage, the statement should specify ex ante the precise indicators and data sources to be used to measure performance against the government’s fiscal objectives.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-437b6deaf03e1851",
          "page": 30,
          "quote": "To prevent the government from “shopping” for fiscal indicators at a later stage, the statement should specify ex ante the precise indicators and data sources to be used to measure performance against the government’s fiscal objectives.",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0039"
    },
    {
      "text": "sustainability and intergenerational fairness over the long term, the Statement of Fiscal Policy should also present long-term economic and fiscal projections covering 30-50 years and include a range of scenarios based on different assumptions of long-term economic, demographic, and other developments (as recommended in Chapter V).",
      "verbatim": "sustainability and intergenerational fairness over the long term, the Statement of Fiscal Policy should also present long-term economic and fiscal projections covering 30-50 years and include a range of scenarios based on different assumptions of long-term economic, demographic, and other developments (as recommended in Chapter V).",
      "actor": null,
      "priority": null,
      "timeframe": "long term",
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-79b343ce6fdd1b13",
          "page": 30,
          "quote": "sustainability and intergenerational fairness over the long term, the Statement of Fiscal Policy should also present long-term economic and fiscal projections covering 30-50 years and include a range of scenarios based on different assumptions of long-term economic, demographic, and other developments (as recommended in Chapter V).",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0040"
    },
    {
      "text": "No later than the first Budget Orientation Debate or Budget following an election, the government should be required to produce a Statement of Fiscal Policy setting out:",
      "verbatim": "No later than the first Budget Orientation Debate or Budget following an election, the government should be required to produce a Statement of Fiscal Policy setting out:",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-6e46fbd7e2e702ff",
          "page": 31,
          "quote": "No later than the first Budget Orientation Debate or Budget following an election, the government should be required to produce a Statement of Fiscal Policy setting out:",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0041"
    },
    {
      "text": "Recommendation 2.5: Fiscal Objectives: The Government’s fiscal objectives should comprise a combination of (a) a long-term goal for the stock of liabilities or net worth and (b) a medium-term objective for the fiscal balance.",
      "verbatim": "Recommendation 2.5: Fiscal Objectives: The Government’s fiscal objectives should comprise a combination of (a) a long-term goal for the stock of liabilities or net worth and (b) a medium-term objective for the fiscal balance.",
      "actor": null,
      "priority": "medium",
      "timeframe": "long-term",
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-0d992cff9e0266c5",
          "page": 31,
          "quote": "Recommendation 2.5: Fiscal Objectives: The Government’s fiscal objectives should comprise a combination of (a) a long-term goal for the stock of liabilities or net worth and (b) a medium-term objective for the fiscal balance.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0042"
    },
    {
      "text": "The Althingi should approve, amend or reject the fiscal policy objectives in c.",
      "verbatim": "The Althingi should approve, amend or reject the fiscal policy objectives in c.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-9352a8be3f11e529",
          "page": 31,
          "quote": "The Althingi should approve, amend or reject the fiscal policy objectives in c.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0043"
    },
    {
      "text": "The MTFS should also include a central unallocated provision to handle contingencies and new policies in later years without",
      "verbatim": "The MTFS should also include a central unallocated provision to handle contingencies and new policies in later years without",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-003f5a962b0f0dac",
          "page": 31,
          "quote": "The MTFS should also include a central unallocated provision to handle contingencies and new policies in later years without",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0044"
    },
    {
      "text": "The MTFS should be submitted to the Althingi in the spring, a development that has been foreshadowed in the recent amendments to the Althingi Procedures Act (Law 84/2011), which calls on the government to submit a three-year budget framework for approval by Parliament no later than April 1each year.",
      "verbatim": "The MTFS should be submitted to the Althingi in the spring, a development that has been foreshadowed in the recent amendments to the Althingi Procedures Act (Law 84/2011), which calls on the government to submit a three-year budget framework for approval by Parliament no later than April 1each year.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-54e1fe74cbb25a8b",
          "page": 31,
          "quote": "The MTFS should be submitted to the Althingi in the spring, a development that has been foreshadowed in the recent amendments to the Althingi Procedures Act (Law 84/2011), which calls on the government to submit a three-year budget framework for approval by Parliament no later than April 1each year.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0045"
    },
    {
      "text": "The OBL should specify the conditions and procedures under which a revised statement may be presented to the Althingi.",
      "verbatim": "The OBL should specify the conditions and procedures under which a revised statement may be presented to the Althingi.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-d43c1dec5c4a6229",
          "page": 31,
          "quote": "The OBL should specify the conditions and procedures under which a revised statement may be presented to the Althingi.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0046"
    },
    {
      "text": "The goal of the MTFS should be to translate the numerical fiscal objectives in the Statement of Fiscal Policy into operational targets for different levels of government and multi-year expenditure ceilings for each ministry.",
      "verbatim": "The goal of the MTFS should be to translate the numerical fiscal objectives in the Statement of Fiscal Policy into operational targets for different levels of government and multi-year expenditure ceilings for each ministry.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-b192b8699d0c05b9",
          "page": 31,
          "quote": "The goal of the MTFS should be to translate the numerical fiscal objectives in the Statement of Fiscal Policy into operational targets for different levels of government and multi-year expenditure ceilings for each ministry.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0047"
    },
    {
      "text": "These targets and ceilings should be approved by the Althingi and used as the basis for the preparation of individual budgets for the coming year.",
      "verbatim": "These targets and ceilings should be approved by the Althingi and used as the basis for the preparation of individual budgets for the coming year.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-a34fbc93f503e289",
          "page": 31,
          "quote": "These targets and ceilings should be approved by the Althingi and used as the basis for the preparation of individual budgets for the coming year.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0048"
    },
    {
      "text": "As such the MTFS should include a summary of the main policy measures that the government proposes to introduce in the annual budget to meet its fiscal targets, along with estimates of the fiscal impact of those measures.",
      "verbatim": "As such the MTFS should include a summary of the main policy measures that the government proposes to introduce in the annual budget to meet its fiscal targets, along with estimates of the fiscal impact of those measures.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-40136b3286bd1ae0",
          "page": 32,
          "quote": "As such the MTFS should include a summary of the main policy measures that the government proposes to introduce in the annual budget to meet its fiscal targets, along with estimates of the fiscal impact of those measures.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0049"
    },
    {
      "text": "At least 1 percent of expenditure should continue to be ringfenced for contingencies that arise during the budget year.",
      "verbatim": "At least 1 percent of expenditure should continue to be ringfenced for contingencies that arise during the budget year.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-f47028381c163ee3",
          "page": 32,
          "quote": "At least 1 percent of expenditure should continue to be ringfenced for contingencies that arise during the budget year.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0050"
    },
    {
      "text": "Iceland’s adoption of a procedural fiscal rule therefore needs to coincide with more active disclosure and management of fiscal risks.",
      "verbatim": "Iceland’s adoption of a procedural fiscal rule therefore needs to coincide with more active disclosure and management of fiscal risks.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-1403932efa507d36",
          "page": 32,
          "quote": "Iceland’s adoption of a procedural fiscal rule therefore needs to coincide with more active disclosure and management of fiscal risks.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0051"
    },
    {
      "text": "It should also serve as a mechanism for improving the management of fiscal risks by requiring the government to discuss the measures it is taking to mitigate specific risks by, for example, charging riskbased fees for all guarantees, reducing exposure to commercial risks through privatization of",
      "verbatim": "It should also serve as a mechanism for improving the management of fiscal risks by requiring the government to discuss the measures it is taking to mitigate specific risks by, for example, charging riskbased fees for all guarantees, reducing exposure to commercial risks through privatization of",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-b970a9e4b41420e1",
          "page": 32,
          "quote": "It should also serve as a mechanism for improving the management of fiscal risks by requiring the government to discuss the measures it is taking to mitigate specific risks by, for example, charging riskbased fees for all guarantees, reducing exposure to commercial risks through privatization of",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0052"
    },
    {
      "text": "Medium-term fiscal projections should be made available to local governments earlier in the year than they are currently, so local governments can plan for the following year on a consistent basis.",
      "verbatim": "Medium-term fiscal projections should be made available to local governments earlier in the year than they are currently, so local governments can plan for the following year on a consistent basis.",
      "actor": null,
      "priority": "medium",
      "timeframe": "Medium-term",
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-a3a9d958123136fc",
          "page": 32,
          "quote": "Medium-term fiscal projections should be made available to local governments earlier in the year than they are currently, so local governments can plan for the following year on a consistent basis.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0053"
    },
    {
      "text": "The MTFS should identify the policies that affect the operations and mandates of local governments and provide estimates of the impact on local government revenues and expenditures both during the upcoming fiscal year and over the medium term.",
      "verbatim": "The MTFS should identify the policies that affect the operations and mandates of local governments and provide estimates of the impact on local government revenues and expenditures both during the upcoming fiscal year and over the medium term.",
      "actor": null,
      "priority": "medium",
      "timeframe": "medium term",
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-a5f3cb2a876000ff",
          "page": 32,
          "quote": "The MTFS should identify the policies that affect the operations and mandates of local governments and provide estimates of the impact on local government revenues and expenditures both during the upcoming fiscal year and over the medium term.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0054"
    },
    {
      "text": "The MTFS should include not only the government’s targets for the public finances but also the policies required to ensure they are met.",
      "verbatim": "The MTFS should include not only the government’s targets for the public finances but also the policies required to ensure they are met.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-22a2246244233c47",
          "page": 32,
          "quote": "The MTFS should include not only the government’s targets for the public finances but also the policies required to ensure they are met.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0055"
    },
    {
      "text": "The discussion of fiscal risks in the MTFS should provide a permanent mechanism for demonstrating that fiscal policy is based on prudent macroeconomic and fiscal assumptions.",
      "verbatim": "The discussion of fiscal risks in the MTFS should provide a permanent mechanism for demonstrating that fiscal policy is based on prudent macroeconomic and fiscal assumptions.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-3cd8f72b01e95ff4",
          "page": 32,
          "quote": "The discussion of fiscal risks in the MTFS should provide a permanent mechanism for demonstrating that fiscal policy is based on prudent macroeconomic and fiscal assumptions.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0056"
    },
    {
      "text": "The provision should be on a rising profile thereafter to reflect the increasing uncertainty and margin for error in later years.",
      "verbatim": "The provision should be on a rising profile thereafter to reflect the increasing uncertainty and margin for error in later years.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-b36a23f2564f7532",
          "page": 32,
          "quote": "The provision should be on a rising profile thereafter to reflect the increasing uncertainty and margin for error in later years.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0057"
    },
    {
      "text": "To ensure that the government is in a position to implement those policies from the moment the budget is approved, the MTFS should provide a summary of the legislative changes required.",
      "verbatim": "To ensure that the government is in a position to implement those policies from the moment the budget is approved, the MTFS should provide a summary of the legislative changes required.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-a02e82eae6ed2113",
          "page": 32,
          "quote": "To ensure that the government is in a position to implement those policies from the moment the budget is approved, the MTFS should provide a summary of the legislative changes required.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0058"
    },
    {
      "text": "By April of every year, the Government should present its Medium-Term Fiscal Strategy setting out:",
      "verbatim": "By April of every year, the Government should present its Medium-Term Fiscal Strategy setting out:",
      "actor": null,
      "priority": "medium",
      "timeframe": "Medium-Term",
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-2c161244d4e974f5",
          "page": 33,
          "quote": "By April of every year, the Government should present its Medium-Term Fiscal Strategy setting out:",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0059"
    },
    {
      "text": "This shortcoming should be addressed in the new",
      "verbatim": "This shortcoming should be addressed in the new",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-5f24ce6463c9279a",
          "page": 33,
          "quote": "This shortcoming should be addressed in the new",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0060"
    },
    {
      "text": "By May, Parliament should",
      "verbatim": "By May, Parliament should",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-f02f8bc36916bf1e",
          "page": 34,
          "quote": "By May, Parliament should",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0061"
    },
    {
      "text": "The OBL should provide for independent evaluation of fiscal policy.",
      "verbatim": "The OBL should provide for independent evaluation of fiscal policy.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-e8022d70dfbaf0ad",
          "page": 35,
          "quote": "The OBL should provide for independent evaluation of fiscal policy.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0062"
    },
    {
      "text": "Bringing forward the deadline for submission of the central government budget to September and adopting a top-down sequence to its approval will also provide municipalities with the time and information they need to finalize and submit their own budgets by December 15 of each year, as stipulated under LGA Article 62.",
      "verbatim": "Bringing forward the deadline for submission of the central government budget to September and adopting a top-down sequence to its approval will also provide municipalities with the time and information they need to finalize and submit their own budgets by December 15 of each year, as stipulated under LGA Article 62.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-0f1b003799713c02",
          "page": 36,
          "quote": "Bringing forward the deadline for submission of the central government budget to September and adopting a top-down sequence to its approval will also provide municipalities with the time and information they need to finalize and submit their own budgets by December 15 of each year, as stipulated under LGA Article 62.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0063"
    },
    {
      "text": "The deadline for the government to submit the Budget Bill to the Althingi should be brought forward to the first week of September to provide four months for budget consideration in Parliament and implementation planning at the ministry, agency, and municipal level.",
      "verbatim": "The deadline for the government to submit the Budget Bill to the Althingi should be brought forward to the first week of September to provide four months for budget consideration in Parliament and implementation planning at the ministry, agency, and municipal level.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-f982a0521cbbfaa6",
          "page": 39,
          "quote": "The deadline for the government to submit the Budget Bill to the Althingi should be brought forward to the first week of September to provide four months for budget consideration in Parliament and implementation planning at the ministry, agency, and municipal level.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0064"
    },
    {
      "text": "Statistics Iceland should bring forward the production of its Autumn macroeconomic forecast to September and not produce another forecast until January of the following year.",
      "verbatim": "Statistics Iceland should bring forward the production of its Autumn macroeconomic forecast to September and not produce another forecast until January of the following year.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-d042f94e36b447ec",
          "page": 40,
          "quote": "Statistics Iceland should bring forward the production of its Autumn macroeconomic forecast to September and not produce another forecast until January of the following year.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0065"
    },
    {
      "text": "The government should be required to present, alongside the annual Budget Bill, a comprehensive Medium-term Budget Strategy with the contents set in out in Box 3.1.",
      "verbatim": "The government should be required to present, alongside the annual Budget Bill, a comprehensive Medium-term Budget Strategy with the contents set in out in Box 3.1.",
      "actor": null,
      "priority": "medium",
      "timeframe": "Medium-term",
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-612c876755d1e5ec",
          "page": 40,
          "quote": "The government should be required to present, alongside the annual Budget Bill, a comprehensive Medium-term Budget Strategy with the contents set in out in Box 3.1.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0066"
    },
    {
      "text": "This means that the Budget Bill presented in October is based on outdated macroeconomic assumptions and typically includes a proviso that budget totals may need to be revised in November to reflect the updated economic outlook.",
      "verbatim": "This means that the Budget Bill presented in October is based on outdated macroeconomic assumptions and typically includes a proviso that budget totals may need to be revised in November to reflect the updated economic outlook.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-5da6fc07aac9e886",
          "page": 40,
          "quote": "This means that the Budget Bill presented in October is based on outdated macroeconomic assumptions and typically includes a proviso that budget totals may need to be revised in November to reflect the updated economic outlook.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0067"
    },
    {
      "text": "Where the annual Budget Bill deviates from those targets, the government should be obliged to provide an explanation for those deviations, separately identifying the impact of changes in (i) baseline assumptions (e.g., overspending in the current year); (ii) macroeconomic assumptions (e.g., GDP growth); (iii) microeconomic parameters (e.g., increase in pensioners numbers); (iv) accounting changes (e.g., reclassifications of entities or transactions); and (v) policy changes (e.g., new legislation introduced since April).",
      "verbatim": "Where the annual Budget Bill deviates from those targets, the government should be obliged to provide an explanation for those deviations, separately identifying the impact of changes in (i) baseline assumptions (e.g., overspending in the current year); (ii) macroeconomic assumptions (e.g., GDP growth); (iii) microeconomic parameters (e.g., increase in pensioners numbers); (iv) accounting changes (e.g., reclassifications of entities or transactions); and (v) policy changes (e.g., new legislation introduced since April).",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-8d6ea2c3520746ba",
          "page": 40,
          "quote": "Where the annual Budget Bill deviates from those targets, the government should be obliged to provide an explanation for those deviations, separately identifying the impact of changes in (i) baseline assumptions (e.g., overspending in the current year); (ii) macroeconomic assumptions (e.g., GDP growth); (iii) microeconomic parameters (e.g., increase in pensioners numbers); (iv) accounting changes (e.g., reclassifications of entities or transactions); and (v) policy changes (e.g., new legislation introduced since April).",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0068"
    },
    {
      "text": "Where these deviations are substantial enough to breach the fiscal objectives set out in the government’s Statement of Fiscal Policy, the government should be required to submit a new Statement of Fiscal Policy for consideration and endorsement by the Althingi before it discusses the annual Budget.",
      "verbatim": "Where these deviations are substantial enough to breach the fiscal objectives set out in the government’s Statement of Fiscal Policy, the government should be required to submit a new Statement of Fiscal Policy for consideration and endorsement by the Althingi before it discusses the annual Budget.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-906981a61d6b90c5",
          "page": 40,
          "quote": "Where these deviations are substantial enough to breach the fiscal objectives set out in the government’s Statement of Fiscal Policy, the government should be required to submit a new Statement of Fiscal Policy for consideration and endorsement by the Althingi before it discusses the annual Budget.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0069"
    },
    {
      "text": "The Medium-term Budget Strategy should cover the previous year, current year, budget year, and subsequent three years and include:",
      "verbatim": "The Medium-term Budget Strategy should cover the previous year, current year, budget year, and subsequent three years and include:",
      "actor": null,
      "priority": "medium",
      "timeframe": "Medium-term",
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-a219575b7eae945a",
          "page": 41,
          "quote": "The Medium-term Budget Strategy should cover the previous year, current year, budget year, and subsequent three years and include:",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0070"
    },
    {
      "text": "Accounting Office who need to wait for and scrutinize 430 different accounts before it can submit the consolidated State Accounts to the INAO for audit; and",
      "verbatim": "Accounting Office who need to wait for and scrutinize 430 different accounts before it can submit the consolidated State Accounts to the INAO for audit; and",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-b0138d58968e030e",
          "page": 43,
          "quote": "Accounting Office who need to wait for and scrutinize 430 different accounts before it can submit the consolidated State Accounts to the INAO for audit; and",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0071"
    },
    {
      "text": "The basic unit of legal appropriation of expenditure should be elevated from the agency to the ministry level, and the total number of legally binding appropriations should be reduced by around two-thirds from over 900 to around 300.",
      "verbatim": "The basic unit of legal appropriation of expenditure should be elevated from the agency to the ministry level, and the total number of legally binding appropriations should be reduced by around two-thirds from over 900 to around 300.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-fd3dd43c29b025a1",
          "page": 43,
          "quote": "The basic unit of legal appropriation of expenditure should be elevated from the agency to the ministry level, and the total number of legally binding appropriations should be reduced by around two-thirds from over 900 to around 300.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0072"
    },
    {
      "text": "The OBL should specify the scope of the government’s authority to reallocate resources between legal appropriations during budget execution.",
      "verbatim": "The OBL should specify the scope of the government’s authority to reallocate resources between legal appropriations during budget execution.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-299a6f7d1da2ac67",
          "page": 44,
          "quote": "The OBL should specify the scope of the government’s authority to reallocate resources between legal appropriations during budget execution.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0073"
    },
    {
      "text": "between ministries should be prohibited without prior Parliamentary approval through a Supplementary Budget;",
      "verbatim": "between ministries should be prohibited without prior Parliamentary approval through a Supplementary Budget;",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-248634591d78e5ca",
          "page": 44,
          "quote": "between ministries should be prohibited without prior Parliamentary approval through a Supplementary Budget;",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0074"
    },
    {
      "text": "budget management, the law should permit the government to reallocate resources between programs/policies areas up to 3 or 5 percent of the total approved budget of the ministry; and",
      "verbatim": "budget management, the law should permit the government to reallocate resources between programs/policies areas up to 3 or 5 percent of the total approved budget of the ministry; and",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-ec1f12c56fb51739",
          "page": 44,
          "quote": "budget management, the law should permit the government to reallocate resources between programs/policies areas up to 3 or 5 percent of the total approved budget of the ministry; and",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0075"
    },
    {
      "text": "sheets, ministers should either (i) be prohibited from reallocating resources between operating and capital expenditure or (ii) be allowed to transfer resources from operations into capital but not from capital into operations .",
      "verbatim": "sheets, ministers should either (i) be prohibited from reallocating resources between operating and capital expenditure or (ii) be allowed to transfer resources from operations into capital but not from capital into operations .",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-81b140e88063b99e",
          "page": 44,
          "quote": "sheets, ministers should either (i) be prohibited from reallocating resources between operating and capital expenditure or (ii) be allowed to transfer resources from operations into capital but not from capital into operations .",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0076"
    },
    {
      "text": "Claims on the contingency reserve should be deducted from the stock of underspends that a ministry can carry over to the next year.",
      "verbatim": "Claims on the contingency reserve should be deducted from the stock of underspends that a ministry can carry over to the next year.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-3eb39c6eafc4d104",
          "page": 45,
          "quote": "Claims on the contingency reserve should be deducted from the stock of underspends that a ministry can carry over to the next year.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0077"
    },
    {
      "text": "If it is determined that access is not consistent with these criteria, the government should be required to introduce a Supplementary Budget to authorize that additional expenditure.",
      "verbatim": "If it is determined that access is not consistent with these criteria, the government should be required to introduce a Supplementary Budget to authorize that additional expenditure.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-cb7927020c87e1a9",
          "page": 45,
          "quote": "If it is determined that access is not consistent with these criteria, the government should be required to introduce a Supplementary Budget to authorize that additional expenditure.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0078"
    },
    {
      "text": "The appropriation for the MoF should include an unallocated contingency reserve of at least 1 percent of total budgeted expenditure.",
      "verbatim": "The appropriation for the MoF should include an unallocated contingency reserve of at least 1 percent of total budgeted expenditure.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-bcbf520b713a8995",
          "page": 45,
          "quote": "The appropriation for the MoF should include an unallocated contingency reserve of at least 1 percent of total budgeted expenditure.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0079"
    },
    {
      "text": "The reserve should be used only to fund expenditures which are:",
      "verbatim": "The reserve should be used only to fund expenditures which are:",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-52f8864b8f3552ff",
          "page": 45,
          "quote": "The reserve should be used only to fund expenditures which are:",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0080"
    },
    {
      "text": "Transfers from the contingency reserve to ministerial appropriations should be notified to the Althingi in monthly budget execution reports and the INAO should be asked to audit whether access is consistent with criteria a, b, c and d .",
      "verbatim": "Transfers from the contingency reserve to ministerial appropriations should be notified to the Althingi in monthly budget execution reports and the INAO should be asked to audit whether access is consistent with criteria a, b, c and d .",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-fbd07da4e3ee9399",
          "page": 45,
          "quote": "Transfers from the contingency reserve to ministerial appropriations should be notified to the Althingi in monthly budget execution reports and the INAO should be asked to audit whether access is consistent with criteria a, b, c and d .",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0081"
    },
    {
      "text": "According to Article 26 of the FRA, the government must seek, through the annual Budget, the Althingi’s approval for not only expenditure but also other claims on taxpayers including borrowing and guarantees.",
      "verbatim": "According to Article 26 of the FRA, the government must seek, through the annual Budget, the Althingi’s approval for not only expenditure but also other claims on taxpayers including borrowing and guarantees.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-f140967ee7386d27",
          "page": 48,
          "quote": "According to Article 26 of the FRA, the government must seek, through the annual Budget, the Althingi’s approval for not only expenditure but also other claims on taxpayers including borrowing and guarantees.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0082"
    },
    {
      "text": "To ensure consistency with the fiscal targets and expenditure limits previously endorsed by the Althingi in the Spring MTFS, the Althingi’s powers to amend the Autumn Budget Bill should be limited to those changes that do not, in either the budget year or over the medium term:",
      "verbatim": "To ensure consistency with the fiscal targets and expenditure limits previously endorsed by the Althingi in the Spring MTFS, the Althingi’s powers to amend the Autumn Budget Bill should be limited to those changes that do not, in either the budget year or over the medium term:",
      "actor": null,
      "priority": "medium",
      "timeframe": "medium term",
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-28a604d5c58c5447",
          "page": 48,
          "quote": "To ensure consistency with the fiscal targets and expenditure limits previously endorsed by the Althingi in the Spring MTFS, the Althingi’s powers to amend the Autumn Budget Bill should be limited to those changes that do not, in either the budget year or over the medium term:",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0083"
    },
    {
      "text": "To provide a more orderly discussion of the Budget Bill and greater predictability to budget-holders about their allocations before year-end, Althingi debates and votes on the Budget Bill should follow a top-down sequence so that:",
      "verbatim": "To provide a more orderly discussion of the Budget Bill and greater predictability to budget-holders about their allocations before year-end, Althingi debates and votes on the Budget Bill should follow a top-down sequence so that:",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-d6cce4f2560c5624",
          "page": 48,
          "quote": "To provide a more orderly discussion of the Budget Bill and greater predictability to budget-holders about their allocations before year-end, Althingi debates and votes on the Budget Bill should follow a top-down sequence so that:",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0084"
    },
    {
      "text": "Articles 30 and 41 should be expanded to require all public entities to ensure that any multi-year financial commitments are affordable within their medium-term budget plans and consistent with the government’s medium-term fiscal objectives.",
      "verbatim": "Articles 30 and 41 should be expanded to require all public entities to ensure that any multi-year financial commitments are affordable within their medium-term budget plans and consistent with the government’s medium-term fiscal objectives.",
      "actor": null,
      "priority": "medium",
      "timeframe": "medium-term",
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-055fde0e73ced76b",
          "page": 49,
          "quote": "Articles 30 and 41 should be expanded to require all public entities to ensure that any multi-year financial commitments are affordable within their medium-term budget plans and consistent with the government’s medium-term fiscal objectives.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0085"
    },
    {
      "text": "For ministries, Althingi approval should be required for all multi-year commitments",
      "verbatim": "For ministries, Althingi approval should be required for all multi-year commitments",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-9816fdee489c9736",
          "page": 49,
          "quote": "For ministries, Althingi approval should be required for all multi-year commitments",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0086"
    },
    {
      "text": "For public corporations, MoF approval should be sought through their annual",
      "verbatim": "For public corporations, MoF approval should be sought through their annual",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-cbe6ce85a11ec30c",
          "page": 49,
          "quote": "For public corporations, MoF approval should be sought through their annual",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0087"
    },
    {
      "text": "Furthermore, public corporations should not be given blanket authority to conclude major contracts with third parties without first seeking authorization from the government, their major shareholder.",
      "verbatim": "Furthermore, public corporations should not be given blanket authority to conclude major contracts with third parties without first seeking authorization from the government, their major shareholder.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-f269ec24af46444c",
          "page": 49,
          "quote": "Furthermore, public corporations should not be given blanket authority to conclude major contracts with third parties without first seeking authorization from the government, their major shareholder.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0088"
    },
    {
      "text": "However, the same does not apply to PPP contracts where only flow of payments for the budget year and next three years needs to be reflected in the Budget.",
      "verbatim": "However, the same does not apply to PPP contracts where only flow of payments for the budget year and next three years needs to be reflected in the Budget.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-5d519aa8219f9503",
          "page": 49,
          "quote": "However, the same does not apply to PPP contracts where only flow of payments for the budget year and next three years needs to be reflected in the Budget.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0089"
    },
    {
      "text": "In seeking approval to sign those contract, the Budget Bill should demonstrate how the flow of liabilities is consistent with meeting the government’s Medium-term Budget Strategy.",
      "verbatim": "In seeking approval to sign those contract, the Budget Bill should demonstrate how the flow of liabilities is consistent with meeting the government’s Medium-term Budget Strategy.",
      "actor": null,
      "priority": "medium",
      "timeframe": "Medium-term",
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-9f659ae2c3d1ecbf",
          "page": 49,
          "quote": "In seeking approval to sign those contract, the Budget Bill should demonstrate how the flow of liabilities is consistent with meeting the government’s Medium-term Budget Strategy.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0090"
    },
    {
      "text": "The range of non-expenditure approvals granted by Parliament in the annual Budget resolution under Article 26 of the FRA should be expanded to include an annual ceiling on the total value of new public private partnership contracts that can be signed by the government that year.",
      "verbatim": "The range of non-expenditure approvals granted by Parliament in the annual Budget resolution under Article 26 of the FRA should be expanded to include an annual ceiling on the total value of new public private partnership contracts that can be signed by the government that year.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-3aeaaff3f16ebfa2",
          "page": 49,
          "quote": "The range of non-expenditure approvals granted by Parliament in the annual Budget resolution under Article 26 of the FRA should be expanded to include an annual ceiling on the total value of new public private partnership contracts that can be signed by the government that year.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0091"
    },
    {
      "text": "When seeking Althingi approval, the MoF should present:",
      "verbatim": "When seeking Althingi approval, the MoF should present:",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-b2b85ab93c8ad883",
          "page": 49,
          "quote": "When seeking Althingi approval, the MoF should present:",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0092"
    },
    {
      "text": "Recommendation 4.1: Cash Management: The law should include an obligation on government to manage cash efficiently, ensuring that (a) payments are not made in advance of need; (b) borrowing costs are minimized; and (c) invoices are paid on time.",
      "verbatim": "Recommendation 4.1: Cash Management: The law should include an obligation on government to manage cash efficiently, ensuring that (a) payments are not made in advance of need; (b) borrowing costs are minimized; and (c) invoices are paid on time.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-993302b65bdae4b8",
          "page": 53,
          "quote": "Recommendation 4.1: Cash Management: The law should include an obligation on government to manage cash efficiently, ensuring that (a) payments are not made in advance of need; (b) borrowing costs are minimized; and (c) invoices are paid on time.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0093"
    },
    {
      "text": "The OBL should require ministries and agencies to have approved operating and cash plans for the coming financial year by December 31.",
      "verbatim": "The OBL should require ministries and agencies to have approved operating and cash plans for the coming financial year by December 31.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-8224ce81c8c2268d",
          "page": 53,
          "quote": "The OBL should require ministries and agencies to have approved operating and cash plans for the coming financial year by December 31.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0094"
    },
    {
      "text": "These plans should be consistent with budgeted limits and in the format prescribed by the MoF.",
      "verbatim": "These plans should be consistent with budgeted limits and in the format prescribed by the MoF.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-3efd12cb2e5fda80",
          "page": 53,
          "quote": "These plans should be consistent with budgeted limits and in the format prescribed by the MoF.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0095"
    },
    {
      "text": "All capital receipts should be returned to the",
      "verbatim": "All capital receipts should be returned to the",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-61b6df0e18f9c09d",
          "page": 54,
          "quote": "All capital receipts should be returned to the",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0096"
    },
    {
      "text": "Individual ministries should not be making isolated decisions about the structure of the government balance sheet;",
      "verbatim": "Individual ministries should not be making isolated decisions about the structure of the government balance sheet;",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-2a37323b2ded8412",
          "page": 54,
          "quote": "Individual ministries should not be making isolated decisions about the structure of the government balance sheet;",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0097"
    },
    {
      "text": "The law should require all sources of revenue to be reporting on a gross basis in budgets, statistics, and accounts.",
      "verbatim": "The law should require all sources of revenue to be reporting on a gross basis in budgets, statistics, and accounts.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-7d33e47a9e064513",
          "page": 54,
          "quote": "The law should require all sources of revenue to be reporting on a gross basis in budgets, statistics, and accounts.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0098"
    },
    {
      "text": "The law should specify a set of principles regarding the retention of revenues by individual ministries or agencies which distinguish between:",
      "verbatim": "The law should specify a set of principles regarding the retention of revenues by individual ministries or agencies which distinguish between:",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-d7cbb71488cf0a97",
          "page": 54,
          "quote": "The law should specify a set of principles regarding the retention of revenues by individual ministries or agencies which distinguish between:",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0099"
    },
    {
      "text": "These revenues should count",
      "verbatim": "These revenues should count",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-888d4facb546a420",
          "page": 54,
          "quote": "These revenues should count",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0100"
    },
    {
      "text": "Any collections above budgeted amounts should be returned to the MoF to prevent ministries from becoming “tax farms.” The MoF may, subject to Recommendation 4.6, credit some or all of the overcollection to a ministry’s stock of carryovers for expenditure in future years to incentivize collection.",
      "verbatim": "Any collections above budgeted amounts should be returned to the MoF to prevent ministries from becoming “tax farms.” The MoF may, subject to Recommendation 4.6, credit some or all of the overcollection to a ministry’s stock of carryovers for expenditure in future years to incentivize collection.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-8c5cceec7b5cea37",
          "page": 55,
          "quote": "Any collections above budgeted amounts should be returned to the MoF to prevent ministries from becoming “tax farms.” The MoF may, subject to Recommendation 4.6, credit some or all of the overcollection to a ministry’s stock of carryovers for expenditure in future years to incentivize collection.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0101"
    },
    {
      "text": "Option 1: The earmarking of tax revenues to specific expenditures should be",
      "verbatim": "Option 1: The earmarking of tax revenues to specific expenditures should be",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-6249c98cb6d0960a",
          "page": 55,
          "quote": "Option 1: The earmarking of tax revenues to specific expenditures should be",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0102"
    },
    {
      "text": "Option 2: Earmarking of tax revenues to specific appropriations should be",
      "verbatim": "Option 2: Earmarking of tax revenues to specific appropriations should be",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-ffb13ac0bc8a069b",
          "page": 55,
          "quote": "Option 2: Earmarking of tax revenues to specific appropriations should be",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0103"
    },
    {
      "text": "Tax revenues should be deposited with the MoF in line with the principle of",
      "verbatim": "Tax revenues should be deposited with the MoF in line with the principle of",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-c47174926a6f8747",
          "page": 55,
          "quote": "Tax revenues should be deposited with the MoF in line with the principle of",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0104"
    },
    {
      "text": "Where the government wishes to demonstrate that particular taxes are being spent in particular areas, this should be done presentationally through budgets and accounts.",
      "verbatim": "Where the government wishes to demonstrate that particular taxes are being spent in particular areas, this should be done presentationally through budgets and accounts.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-d28878d223084ba7",
          "page": 55,
          "quote": "Where the government wishes to demonstrate that particular taxes are being spent in particular areas, this should be done presentationally through budgets and accounts.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0105"
    },
    {
      "text": "allowed only (i) in exceptional circumstances; (ii) by an Act of Parliament which must be renewed at least every five years; and (iii) to the ministerial (rather than agency or program) level of appropriation.",
      "verbatim": "allowed only (i) in exceptional circumstances; (ii) by an Act of Parliament which must be renewed at least every five years; and (iii) to the ministerial (rather than agency or program) level of appropriation.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-691e8541e7ba3ad2",
          "page": 55,
          "quote": "allowed only (i) in exceptional circumstances; (ii) by an Act of Parliament which must be renewed at least every five years; and (iii) to the ministerial (rather than agency or program) level of appropriation.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0106"
    },
    {
      "text": "and charges should be set at the level required to recover the costs of providing the corresponding service as reflected in the ministry’s budget allocation.",
      "verbatim": "and charges should be set at the level required to recover the costs of providing the corresponding service as reflected in the ministry’s budget allocation.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-c30ea5c054af9032",
          "page": 55,
          "quote": "and charges should be set at the level required to recover the costs of providing the corresponding service as reflected in the ministry’s budget allocation.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0107"
    },
    {
      "text": "However, the law should limit the MoF’s authority to approve the carryover of unspent appropriation to:",
      "verbatim": "However, the law should limit the MoF’s authority to approve the carryover of unspent appropriation to:",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-adc1cd793a6054a6",
          "page": 57,
          "quote": "However, the law should limit the MoF’s authority to approve the carryover of unspent appropriation to:",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0108"
    },
    {
      "text": "The possibility to carry forward underspends with the approval of the MoF should be retained but be applied at the ministry (rather than agency) level in line with Recommendation 3.4.",
      "verbatim": "The possibility to carry forward underspends with the approval of the MoF should be retained but be applied at the ministry (rather than agency) level in line with Recommendation 3.4.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-59c48bfe084f011b",
          "page": 57,
          "quote": "The possibility to carry forward underspends with the approval of the MoF should be retained but be applied at the ministry (rather than agency) level in line with Recommendation 3.4.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0109"
    },
    {
      "text": "The provision in Articles 37 and 45 of the FRA permitting carryover of overspending in the current year and “deducting” it from future appropriations should be repealed.",
      "verbatim": "The provision in Articles 37 and 45 of the FRA permitting carryover of overspending in the current year and “deducting” it from future appropriations should be repealed.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-d6a2292923c049cd",
          "page": 57,
          "quote": "The provision in Articles 37 and 45 of the FRA permitting carryover of overspending in the current year and “deducting” it from future appropriations should be repealed.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0110"
    },
    {
      "text": "In both cases, the latter can be exceeded without prior authorization by Parliament but must be authorized in a final supplementary or “rectifying” budget.",
      "verbatim": "In both cases, the latter can be exceeded without prior authorization by Parliament but must be authorized in a final supplementary or “rectifying” budget.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-38a2bd6b5bc3ccb4",
          "page": 58,
          "quote": "In both cases, the latter can be exceeded without prior authorization by Parliament but must be authorized in a final supplementary or “rectifying” budget.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0111"
    },
    {
      "text": "In the new law, the Final Budget Bill should be either :",
      "verbatim": "In the new law, the Final Budget Bill should be either :",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-e01db73770617037",
          "page": 58,
          "quote": "In the new law, the Final Budget Bill should be either :",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0112"
    },
    {
      "text": "Instead, wage agreements should be negotiated (a) within MTFS parameters, (b) take effect in the following year; and (c) be fully reflected in the annual budget for that year.",
      "verbatim": "Instead, wage agreements should be negotiated (a) within MTFS parameters, (b) take effect in the following year; and (c) be fully reflected in the annual budget for that year.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-5205d4f3ce11c895",
          "page": 58,
          "quote": "Instead, wage agreements should be negotiated (a) within MTFS parameters, (b) take effect in the following year; and (c) be fully reflected in the annual budget for that year.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0113"
    },
    {
      "text": "Recommendations: 4.9: Wage Agreements: Article 34 of the FRA which grants the government the power to retrospectively authorize above-budget wage agreements via a Supplementary Budget should be repealed.",
      "verbatim": "Recommendations: 4.9: Wage Agreements: Article 34 of the FRA which grants the government the power to retrospectively authorize above-budget wage agreements via a Supplementary Budget should be repealed.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-e9acabc95e910150",
          "page": 58,
          "quote": "Recommendations: 4.9: Wage Agreements: Article 34 of the FRA which grants the government the power to retrospectively authorize above-budget wage agreements via a Supplementary Budget should be repealed.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0114"
    },
    {
      "text": "The law should require that the Supplementary Budget be approved by the Althingi before the expenditure can take place, with the exception of a small number of non-discretionary expenditures such as (i) interest payments on debt; (ii) demand-led social security payments; and (iii) subscriptions to international organizations.",
      "verbatim": "The law should require that the Supplementary Budget be approved by the Althingi before the expenditure can take place, with the exception of a small number of non-discretionary expenditures such as (i) interest payments on debt; (ii) demand-led social security payments; and (iii) subscriptions to international organizations.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-4e29a5165838583b",
          "page": 58,
          "quote": "The law should require that the Supplementary Budget be approved by the Althingi before the expenditure can take place, with the exception of a small number of non-discretionary expenditures such as (i) interest payments on debt; (ii) demand-led social security payments; and (iii) subscriptions to international organizations.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0115"
    },
    {
      "text": "The new OBL should require any unbudgeted expenditure that cannot be accommodated through the utilization of the virement rules or funded from the contingency reserve to be authorized by the Althingi through a Supplementary Budget.",
      "verbatim": "The new OBL should require any unbudgeted expenditure that cannot be accommodated through the utilization of the virement rules or funded from the contingency reserve to be authorized by the Althingi through a Supplementary Budget.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-afc891db78d88625",
          "page": 58,
          "quote": "The new OBL should require any unbudgeted expenditure that cannot be accommodated through the utilization of the virement rules or funded from the contingency reserve to be authorized by the Althingi through a Supplementary Budget.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0116"
    },
    {
      "text": "These provisions undermine not only the credibility and integrity of the annual Budget but also the fundamental principle that all expenditure of taxpayer money must be authorized by Parliament before it can take place.",
      "verbatim": "These provisions undermine not only the credibility and integrity of the annual Budget but also the fundamental principle that all expenditure of taxpayer money must be authorized by Parliament before it can take place.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-1bbd77a4ebc16a69",
          "page": 58,
          "quote": "These provisions undermine not only the credibility and integrity of the annual Budget but also the fundamental principle that all expenditure of taxpayer money must be authorized by Parliament before it can take place.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0117"
    },
    {
      "text": "The Committee may call the responsible Minister, Permanent Secretary, and Finance Director to a public hearing to account for the overspending or infraction before deciding whether the expenditure should be (i) authorized through a “vote of excess” or (ii) referred for administrative, financial, or criminal sanction.",
      "verbatim": "The Committee may call the responsible Minister, Permanent Secretary, and Finance Director to a public hearing to account for the overspending or infraction before deciding whether the expenditure should be (i) authorized through a “vote of excess” or (ii) referred for administrative, financial, or criminal sanction.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-2817383d0f88f24c",
          "page": 59,
          "quote": "The Committee may call the responsible Minister, Permanent Secretary, and Finance Director to a public hearing to account for the overspending or infraction before deciding whether the expenditure should be (i) authorized through a “vote of excess” or (ii) referred for administrative, financial, or criminal sanction.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0118"
    },
    {
      "text": "The new OBL should place an obligation on the INAO to report any overspending or other financial irregularities and require the Althingi to investigate the matter and determine whether the overspending or irregularity should be authorized or sanctioned.",
      "verbatim": "The new OBL should place an obligation on the INAO to report any overspending or other financial irregularities and require the Althingi to investigate the matter and determine whether the overspending or irregularity should be authorized or sanctioned.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-9917f89616811a44",
          "page": 59,
          "quote": "The new OBL should place an obligation on the INAO to report any overspending or other financial irregularities and require the Althingi to investigate the matter and determine whether the overspending or irregularity should be authorized or sanctioned.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0119"
    },
    {
      "text": "The new OBL should provide the Athingi and Government with a broader range of administrative, financial, and criminal sanctions to deal with overspending or other financial irregularities.",
      "verbatim": "The new OBL should provide the Athingi and Government with a broader range of administrative, financial, and criminal sanctions to deal with overspending or other financial irregularities.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-480a6215ea65aca9",
          "page": 59,
          "quote": "The new OBL should provide the Athingi and Government with a broader range of administrative, financial, and criminal sanctions to deal with overspending or other financial irregularities.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0120"
    },
    {
      "text": "The range of possible sanctions should include the following intermediate options:",
      "verbatim": "The range of possible sanctions should include the following intermediate options:",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-6264bf422ff67650",
          "page": 59,
          "quote": "The range of possible sanctions should include the following intermediate options:",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0121"
    },
    {
      "text": "The reporting required under Iceland’s FRA, or provided by the government in practice, is mostly in line with international standards, and many features of the existing system should be preserved.",
      "verbatim": "The reporting required under Iceland’s FRA, or provided by the government in practice, is mostly in line with international standards, and many features of the existing system should be preserved.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-60850034c0f465b3",
          "page": 61,
          "quote": "The reporting required under Iceland’s FRA, or provided by the government in practice, is mostly in line with international standards, and many features of the existing system should be preserved.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0122"
    },
    {
      "text": "But forecasts should be unbiased.",
      "verbatim": "But forecasts should be unbiased.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-ec225d35364785e6",
          "page": 62,
          "quote": "But forecasts should be unbiased.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0123"
    },
    {
      "text": "The main improvements that should be reflected in the reporting provisions of a new OBL can be grouped under the following headings:",
      "verbatim": "The main improvements that should be reflected in the reporting provisions of a new OBL can be grouped under the following headings:",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-c69ef0d1bc940859",
          "page": 62,
          "quote": "The main improvements that should be reflected in the reporting provisions of a new OBL can be grouped under the following headings:",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0124"
    },
    {
      "text": "In addition, preparing forecast statements for the consolidated government, as proposed below, should help ensure that costs associated with entities such as the CBI and the HFF are included in forecasts.",
      "verbatim": "In addition, preparing forecast statements for the consolidated government, as proposed below, should help ensure that costs associated with entities such as the CBI and the HFF are included in forecasts.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-572b836514f64fc7",
          "page": 63,
          "quote": "In addition, preparing forecast statements for the consolidated government, as proposed below, should help ensure that costs associated with entities such as the CBI and the HFF are included in forecasts.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0125"
    },
    {
      "text": "Requiring all forecast financial statements to be prepared on the same basis as the accounts should help ensure that forecasts of tax write-offs, pension costs, and other items are unbiased estimates of end-of-year actual figures.",
      "verbatim": "Requiring all forecast financial statements to be prepared on the same basis as the accounts should help ensure that forecasts of tax write-offs, pension costs, and other items are unbiased estimates of end-of-year actual figures.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-d44562290a0fd033",
          "page": 63,
          "quote": "Requiring all forecast financial statements to be prepared on the same basis as the accounts should help ensure that forecasts of tax write-offs, pension costs, and other items are unbiased estimates of end-of-year actual figures.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0126"
    },
    {
      "text": "The government’s budgets, fiscal forecasts, and other prospective reports should be prepared on the same accounting basis as its retrospective reports.",
      "verbatim": "The government’s budgets, fiscal forecasts, and other prospective reports should be prepared on the same accounting basis as its retrospective reports.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-5ab37e3bfc6ee439",
          "page": 63,
          "quote": "The government’s budgets, fiscal forecasts, and other prospective reports should be prepared on the same accounting basis as its retrospective reports.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0127"
    },
    {
      "text": "To help address this problem, forecasts in budget documents should be prepared on the same accounting basis as end-of-year accounts.",
      "verbatim": "To help address this problem, forecasts in budget documents should be prepared on the same accounting basis as end-of-year accounts.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-2f49f3d87c3f3b4a",
          "page": 63,
          "quote": "To help address this problem, forecasts in budget documents should be prepared on the same accounting basis as end-of-year accounts.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0128"
    },
    {
      "text": "But Statistics Iceland should aim to present at least a statement of operations, a statement of economic flows, and a balance sheet for the public sector.",
      "verbatim": "But Statistics Iceland should aim to present at least a statement of operations, a statement of economic flows, and a balance sheet for the public sector.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-9e7f6ae796e9373d",
          "page": 64,
          "quote": "But Statistics Iceland should aim to present at least a statement of operations, a statement of economic flows, and a balance sheet for the public sector.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0129"
    },
    {
      "text": "Fiscal reporting should offer a panoramic view of the public sector, as well as close-ups of meaningful subsectors like central government, local government, and public corporations.",
      "verbatim": "Fiscal reporting should offer a panoramic view of the public sector, as well as close-ups of meaningful subsectors like central government, local government, and public corporations.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-257ce9c21ecef1b6",
          "page": 64,
          "quote": "Fiscal reporting should offer a panoramic view of the public sector, as well as close-ups of meaningful subsectors like central government, local government, and public corporations.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0130"
    },
    {
      "text": "Transactions within the public sector should be eliminated in consolidated accounts, but the priority should be to produce fuller information even if the elimination is imperfect.",
      "verbatim": "Transactions within the public sector should be eliminated in consolidated accounts, but the priority should be to produce fuller information even if the elimination is imperfect.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-65ba5349ba7d31d1",
          "page": 64,
          "quote": "Transactions within the public sector should be eliminated in consolidated accounts, but the priority should be to produce fuller information even if the elimination is imperfect.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0131"
    },
    {
      "text": "The OBL should require Statistics Iceland to prepare a comprehensive set of fiscal statistics for the public sector, including a statement of operations, a statement of other economic flows, and a balance sheet.",
      "verbatim": "The OBL should require Statistics Iceland to prepare a comprehensive set of fiscal statistics for the public sector, including a statement of operations, a statement of other economic flows, and a balance sheet.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-df6e1501f2883aa0",
          "page": 65,
          "quote": "The OBL should require Statistics Iceland to prepare a comprehensive set of fiscal statistics for the public sector, including a statement of operations, a statement of other economic flows, and a balance sheet.",
          "source": "document"
        }
      ],
      "confidence": 0.65,
      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0132"
    },
    {
      "text": "The first option is unsatisfactory, and government should produce consolidated financial statements for at least the entities it controls.",
      "verbatim": "The first option is unsatisfactory, and government should produce consolidated financial statements for at least the entities it controls.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-cb0fda52def74781",
          "page": 66,
          "quote": "The first option is unsatisfactory, and government should produce consolidated financial statements for at least the entities it controls.",
          "source": "document"
        }
      ],
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      "review_status": "unreviewed",
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      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0133"
    },
    {
      "text": "Arguments for making general government the basis of fiscal targets suggest that the public sector should at least be closely monitored and included in reporting.",
      "verbatim": "Arguments for making general government the basis of fiscal targets suggest that the public sector should at least be closely monitored and included in reporting.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-732b6a504422bf51",
          "page": 68,
          "quote": "Arguments for making general government the basis of fiscal targets suggest that the public sector should at least be closely monitored and included in reporting.",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
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      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0134"
    },
    {
      "text": "For the reasons mentioned in paragraph 110, the Government should also produce statements for subsectors of the public sector .",
      "verbatim": "For the reasons mentioned in paragraph 110, the Government should also produce statements for subsectors of the public sector .",
      "actor": null,
      "priority": null,
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      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-8cf37c4a4facc2c0",
          "page": 68,
          "quote": "For the reasons mentioned in paragraph 110, the Government should also produce statements for subsectors of the public sector .",
          "source": "document"
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      ],
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      "extraction_method": "explicit_recommendation_modal",
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      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0135"
    },
    {
      "text": "The government’s financial statements should cover either :",
      "verbatim": "The government’s financial statements should cover either :",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-245a3d6c0d4dd780",
          "page": 68,
          "quote": "The government’s financial statements should cover either :",
          "source": "document"
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0136"
    },
    {
      "text": "The move to greater fiscal cooperation between central and local government raises the question of whether the scope of the government’s audited financial statements should be further extended to also cover local governments.",
      "verbatim": "The move to greater fiscal cooperation between central and local government raises the question of whether the scope of the government’s audited financial statements should be further extended to also cover local governments.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-b9be01e14afeee49",
          "page": 68,
          "quote": "The move to greater fiscal cooperation between central and local government raises the question of whether the scope of the government’s audited financial statements should be further extended to also cover local governments.",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0137"
    },
    {
      "text": "Although this exception had some justifications, it should now be removed .",
      "verbatim": "Although this exception had some justifications, it should now be removed .",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-f215180f62211491",
          "page": 69,
          "quote": "Although this exception had some justifications, it should now be removed .",
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        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0138"
    },
    {
      "text": "As well as requiring consolidated reporting, the OBL should require disaggregated reporting on subsectors of government, where the segments are defined as central government, local government, nonfinancial public corporations, monetary financial public corporations, and nonmonetary financial corporations.",
      "verbatim": "As well as requiring consolidated reporting, the OBL should require disaggregated reporting on subsectors of government, where the segments are defined as central government, local government, nonfinancial public corporations, monetary financial public corporations, and nonmonetary financial corporations.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-437ce6f073def2c4",
          "page": 69,
          "quote": "As well as requiring consolidated reporting, the OBL should require disaggregated reporting on subsectors of government, where the segments are defined as central government, local government, nonfinancial public corporations, monetary financial public corporations, and nonmonetary financial corporations.",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0139"
    },
    {
      "text": "Fiscal reporting should also provide information on a broad range of fiscal stocks and fiscal flows.",
      "verbatim": "Fiscal reporting should also provide information on a broad range of fiscal stocks and fiscal flows.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-b11fbf27e22f23ae",
          "page": 69,
          "quote": "Fiscal reporting should also provide information on a broad range of fiscal stocks and fiscal flows.",
          "source": "document"
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      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0140"
    },
    {
      "text": "First, the cash-flow statement should show cash disbursed for the acquisition of physical assets.",
      "verbatim": "First, the cash-flow statement should show cash disbursed for the acquisition of physical assets.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-466e733a69bea6f4",
          "page": 70,
          "quote": "First, the cash-flow statement should show cash disbursed for the acquisition of physical assets.",
          "source": "document"
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      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
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      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0141"
    },
    {
      "text": "Statistics Iceland should produce a full balance sheet and a full statement of other economic flows for central, local, and general government and the public sector.",
      "verbatim": "Statistics Iceland should produce a full balance sheet and a full statement of other economic flows for central, local, and general government and the public sector.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-b30ad5fb17352591",
          "page": 71,
          "quote": "Statistics Iceland should produce a full balance sheet and a full statement of other economic flows for central, local, and general government and the public sector.",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0142"
    },
    {
      "text": "The accounting required by the OBL should ensure that ministries, institutions, and the government itself recognize nonfinancial assets on their balance sheets.",
      "verbatim": "The accounting required by the OBL should ensure that ministries, institutions, and the government itself recognize nonfinancial assets on their balance sheets.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-655dc0fba4440fa0",
          "page": 71,
          "quote": "The accounting required by the OBL should ensure that ministries, institutions, and the government itself recognize nonfinancial assets on their balance sheets.",
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      ],
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      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0143"
    },
    {
      "text": "The operating statement required of the government by the OBL should show the government’s net lending, as well as standard accounting measures of the surplus.",
      "verbatim": "The operating statement required of the government by the OBL should show the government’s net lending, as well as standard accounting measures of the surplus.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-96e45e8ff240d995",
          "page": 71,
          "quote": "The operating statement required of the government by the OBL should show the government’s net lending, as well as standard accounting measures of the surplus.",
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      ],
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      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0144"
    },
    {
      "text": "All members of the European Union, for example, must analyze long-term public finances as part of their annual Stability or Convergence Programs.",
      "verbatim": "All members of the European Union, for example, must analyze long-term public finances as part of their annual Stability or Convergence Programs.",
      "actor": null,
      "priority": null,
      "timeframe": "long-term",
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-df434a003ab481d7",
          "page": 72,
          "quote": "All members of the European Union, for example, must analyze long-term public finances as part of their annual Stability or Convergence Programs.",
          "source": "document"
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      ],
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      "review_status": "unreviewed",
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      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0145"
    },
    {
      "text": "Although accounting and statistical balance sheets are important tools for fiscal monitoring, they need to be supplemented by projections of future spending and revenue.",
      "verbatim": "Although accounting and statistical balance sheets are important tools for fiscal monitoring, they need to be supplemented by projections of future spending and revenue.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-f161fc64a2f8768c",
          "page": 72,
          "quote": "Although accounting and statistical balance sheets are important tools for fiscal monitoring, they need to be supplemented by projections of future spending and revenue.",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
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      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0146"
    },
    {
      "text": "At present, the estimates of interest expense in the government’s accounts and statistics exclude inflation-linked increases in the value of the outstanding principal of inflation-indexed debt, a practice that should change .",
      "verbatim": "At present, the estimates of interest expense in the government’s accounts and statistics exclude inflation-linked increases in the value of the outstanding principal of inflation-indexed debt, a practice that should change .",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-5defdc39af160093",
          "page": 72,
          "quote": "At present, the estimates of interest expense in the government’s accounts and statistics exclude inflation-linked increases in the value of the outstanding principal of inflation-indexed debt, a practice that should change .",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
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      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0147"
    },
    {
      "text": "The accounting required by the OBL should calculate interest cost by multiplying outstanding principal by the “effective interest rate,” which is the projected internal rate of return on the debt, considering all future cash flows (e.g., according to IPSAS 29, Financial Instruments: Recognition and Measurement).",
      "verbatim": "The accounting required by the OBL should calculate interest cost by multiplying outstanding principal by the “effective interest rate,” which is the projected internal rate of return on the debt, considering all future cash flows (e.g., according to IPSAS 29, Financial Instruments: Recognition and Measurement).",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-e225e3bcee7a7e70",
          "page": 72,
          "quote": "The accounting required by the OBL should calculate interest cost by multiplying outstanding principal by the “effective interest rate,” which is the projected internal rate of return on the debt, considering all future cash flows (e.g., according to IPSAS 29, Financial Instruments: Recognition and Measurement).",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0148"
    },
    {
      "text": "The government should recognize assets and liabilities associated with leases and public-private partnerships when that would be required by modern standards such as IPSAS.",
      "verbatim": "The government should recognize assets and liabilities associated with leases and public-private partnerships when that would be required by modern standards such as IPSAS.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-5830d186848395df",
          "page": 72,
          "quote": "The government should recognize assets and liabilities associated with leases and public-private partnerships when that would be required by modern standards such as IPSAS.",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
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      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0149"
    },
    {
      "text": "The OBL should require the government to publish long-term fiscal projections based on a range of macroeconomic, demographic, and other assumptions, along with an estimate of the present values of the main lines of the projections.",
      "verbatim": "The OBL should require the government to publish long-term fiscal projections based on a range of macroeconomic, demographic, and other assumptions, along with an estimate of the present values of the main lines of the projections.",
      "actor": null,
      "priority": null,
      "timeframe": "long-term",
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-cc9784ea0ac933d1",
          "page": 73,
          "quote": "The OBL should require the government to publish long-term fiscal projections based on a range of macroeconomic, demographic, and other assumptions, along with an estimate of the present values of the main lines of the projections.",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0150"
    },
    {
      "text": "The advantage of IPSAS over IFRS and local GAAP is that IPSAS do not need to be modified to apply to governments.",
      "verbatim": "The advantage of IPSAS over IFRS and local GAAP is that IPSAS do not need to be modified to apply to governments.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-ca73a3d2c6bb3f21",
          "page": 74,
          "quote": "The advantage of IPSAS over IFRS and local GAAP is that IPSAS do not need to be modified to apply to governments.",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
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      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0151"
    },
    {
      "text": "The OBL should require ministries, institutions, and the government itself to prepare financial reports that comply with International Public Sector Accounting Standards.",
      "verbatim": "The OBL should require ministries, institutions, and the government itself to prepare financial reports that comply with International Public Sector Accounting Standards.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-f74f0f7ae0946b41",
          "page": 75,
          "quote": "The OBL should require ministries, institutions, and the government itself to prepare financial reports that comply with International Public Sector Accounting Standards.",
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        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
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      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0152"
    },
    {
      "text": "The new organic budget law should require the government to publish audited annual financial statements no more than four months after the end of the financial year.",
      "verbatim": "The new organic budget law should require the government to publish audited annual financial statements no more than four months after the end of the financial year.",
      "actor": null,
      "priority": null,
      "timeframe": null,
      "report_paragraph": null,
      "section": "Richard Hughes, Tim Irwin, Iva Petrova, and Edda Ros Karlsdottir January 2012",
      "evidence": [
        {
          "evidence_id": "ev-94db44977170791c",
          "page": 76,
          "quote": "The new organic budget law should require the government to publish audited annual financial statements no more than four months after the end of the financial year.",
          "source": "document"
        }
      ],
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      "extraction_method": "explicit_recommendation_modal",
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
      "explicitness": "implicit_candidate",
      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0153"
    },
    {
      "text": "Adopt a procedural fiscal rule anchored in a set of fiscal policy principles",
      "verbatim": "Adopt a procedural fiscal rule anchored in a set of fiscal policy principles",
      "actor": null,
      "priority": null,
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      "report_paragraph": null,
      "section": "recommendation table 1",
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        {
          "evidence_id": "ev-7777cf808ec01cdb",
          "page": 77,
          "quote": "Adopt a procedural fiscal rule anchored in a set of fiscal policy principles",
          "source": "document"
        }
      ],
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      "extraction_method": "recommendation_table",
      "review_status": "unreviewed",
      "recommendation_type": "explicit_table",
      "explicitness": "explicit",
      "confidence_tier": "high",
      "in_conservative_set": true,
      "recommendation_id": "cr-2012-004-rec-0154"
    },
    {
      "text": "Allow ministries to reallocate operating/capital expenditure between programs up to 3-5 %",
      "verbatim": "Allow ministries to reallocate operating/capital expenditure between programs up to 3-5 %",
      "actor": null,
      "priority": null,
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      "report_paragraph": null,
      "section": "recommendation table 1",
      "evidence": [
        {
          "evidence_id": "ev-6c8063e30faa170f",
          "page": 77,
          "quote": "Allow ministries to reallocate operating/capital expenditure between programs up to 3-5 %",
          "source": "document"
        }
      ],
      "confidence": 0.98,
      "extraction_method": "recommendation_table",
      "review_status": "unreviewed",
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      "explicitness": "explicit",
      "confidence_tier": "high",
      "in_conservative_set": true,
      "recommendation_id": "cr-2012-004-rec-0155"
    },
    {
      "text": "Althingi Budget amendments should not increase expenditure, reduce revenue, or increase liabilities",
      "verbatim": "Althingi Budget amendments should not increase expenditure, reduce revenue, or increase liabilities",
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          "quote": "Althingi Budget amendments should not increase expenditure, reduce revenue, or increase liabilities",
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      "confidence_tier": "high",
      "in_conservative_set": true,
      "recommendation_id": "cr-2012-004-rec-0156"
    },
    {
      "text": "Althingi approval should be required for commitments that exceed a percent of a ministry’s budget",
      "verbatim": "Althingi approval should be required for commitments that exceed a percent of a ministry’s budget",
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          "quote": "Althingi approval should be required for commitments that exceed a percent of a ministry’s budget",
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      "confidence_tier": "high",
      "in_conservative_set": true,
      "recommendation_id": "cr-2012-004-rec-0157"
    },
    {
      "text": "Althingi debates and votes on the Budget should follow a top-down sequence",
      "verbatim": "Althingi debates and votes on the Budget should follow a top-down sequence",
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          "quote": "Althingi debates and votes on the Budget should follow a top-down sequence",
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      "in_conservative_set": true,
      "recommendation_id": "cr-2012-004-rec-0158"
    },
    {
      "text": "Althingi should approve, amend, or reject Statement of Fiscal Policy",
      "verbatim": "Althingi should approve, amend, or reject Statement of Fiscal Policy",
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      "in_conservative_set": true,
      "recommendation_id": "cr-2012-004-rec-0159"
    },
    {
      "text": "By April of each year, the government should present its fiscal strategy for the medium-term",
      "verbatim": "By April of each year, the government should present its fiscal strategy for the medium-term",
      "actor": null,
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      "timeframe": "medium-term",
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          "quote": "By April of each year, the government should present its fiscal strategy for the medium-term",
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      "in_conservative_set": true,
      "recommendation_id": "cr-2012-004-rec-0160"
    },
    {
      "text": "Claims granted to ministries from the reserve should be deducted from the final stock of carryovers",
      "verbatim": "Claims granted to ministries from the reserve should be deducted from the final stock of carryovers",
      "actor": null,
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          "quote": "Claims granted to ministries from the reserve should be deducted from the final stock of carryovers",
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      "in_conservative_set": true,
      "recommendation_id": "cr-2012-004-rec-0161"
    },
    {
      "text": "Deadline for Budget submission to Althingi should be brought forward from October to September",
      "verbatim": "Deadline for Budget submission to Althingi should be brought forward from October to September",
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      "in_conservative_set": true,
      "recommendation_id": "cr-2012-004-rec-0162"
    },
    {
      "text": "Each new government should state its numerical fiscal objectives for the Parliament",
      "verbatim": "Each new government should state its numerical fiscal objectives for the Parliament",
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      "recommendation_id": "cr-2012-004-rec-0163"
    },
    {
      "text": "Government may revise the statement with Althingi approval",
      "verbatim": "Government may revise the statement with Althingi approval",
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      "recommendation_id": "cr-2012-004-rec-0164"
    },
    {
      "text": "III. BUDGETFORMULATION ANDAPPROVAL",
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      "recommendation_id": "cr-2012-004-rec-0165"
    },
    {
      "text": "OBL should apply to the whole public sector",
      "verbatim": "OBL should apply to the whole public sector",
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      "recommendation_id": "cr-2012-004-rec-0166"
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    {
      "text": "OBL should be organized around the four main phases of the budget cycle",
      "verbatim": "OBL should be organized around the four main phases of the budget cycle",
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      "recommendation_id": "cr-2012-004-rec-0167"
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    {
      "text": "OBL should prescribe a new, better integrated timetable for the budget process",
      "verbatim": "OBL should prescribe a new, better integrated timetable for the budget process",
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    {
      "text": "OBL should require independent scrutiny of fiscal objectives forecasts, and performance",
      "verbatim": "OBL should require independent scrutiny of fiscal objectives forecasts, and performance",
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      "recommendation_id": "cr-2012-004-rec-0169"
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    {
      "text": "Parliament should review past fiscal performance and approve MTFS targets, ceilings & legislation",
      "verbatim": "Parliament should review past fiscal performance and approve MTFS targets, ceilings & legislation",
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      "recommendation_id": "cr-2012-004-rec-0170"
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    {
      "text": "Reduce number of appropriations from to 300 and make ministries the focus of budget discussions",
      "verbatim": "Reduce number of appropriations from to 300 and make ministries the focus of budget discussions",
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      "recommendation_id": "cr-2012-004-rec-0171"
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    {
      "text": "Require Budget to be accompanied by a Medium-term Budget Strategy",
      "verbatim": "Require Budget to be accompanied by a Medium-term Budget Strategy",
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      "recommendation_id": "cr-2012-004-rec-0172"
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    {
      "text": "Require reserve of at least 1% for temporary, unforeseeable, unavoidable, unabsorbable pressures",
      "verbatim": "Require reserve of at least 1% for temporary, unforeseeable, unavoidable, unabsorbable pressures",
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      "recommendation_id": "cr-2012-004-rec-0173"
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    {
      "text": "Scope of Budget authorizations should be expanded to include public-private partnerships",
      "verbatim": "Scope of Budget authorizations should be expanded to include public-private partnerships",
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      "recommendation_id": "cr-2012-004-rec-0174"
    },
    {
      "text": "Statement should include objectives for the stock of liabilities and fiscal balance",
      "verbatim": "Statement should include objectives for the stock of liabilities and fiscal balance",
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          "quote": "Statement should include objectives for the stock of liabilities and fiscal balance",
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      "recommendation_id": "cr-2012-004-rec-0175"
    },
    {
      "text": "Statistics Iceland should produce two official macroeconomic forecasts in January and August",
      "verbatim": "Statistics Iceland should produce two official macroeconomic forecasts in January and August",
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          "quote": "Statistics Iceland should produce two official macroeconomic forecasts in January and August",
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      "recommendation_id": "cr-2012-004-rec-0176"
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    {
      "text": "Transfers from the contingency reserve should be notified to Althingi and audited by INAO",
      "verbatim": "Transfers from the contingency reserve should be notified to Althingi and audited by INAO",
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          "quote": "Transfers from the contingency reserve should be notified to Althingi and audited by INAO",
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      "in_conservative_set": true,
      "recommendation_id": "cr-2012-004-rec-0177"
    },
    {
      "text": "However, setting a looser objective for the overall fiscal balance would imply a much longer horizon to reduce public debt and allow the public finances to drift away from a sustainable path should a new large negative shock happen in the interim.",
      "verbatim": "However, setting a looser objective for the overall fiscal balance would imply a much longer horizon to reduce public debt and allow the public finances to drift away from a sustainable path should a new large negative shock happen in the interim.",
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          "quote": "However, setting a looser objective for the overall fiscal balance would imply a much longer horizon to reduce public debt and allow the public finances to drift away from a sustainable path should a new large negative shock happen in the interim.",
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      "confidence_tier": "medium",
      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0178"
    },
    {
      "text": "An alternative to using an over-the-cycle concept is to specify a period of time over which the balance rule must be satisfied.",
      "verbatim": "An alternative to using an over-the-cycle concept is to specify a period of time over which the balance rule must be satisfied.",
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      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0179"
    },
    {
      "text": "The rate of expenditure growth can be adjusted according to the fiscal consolidation needs, the need to reduce the size of the public sector, and take into account of rigidities in the budgetary items.",
      "verbatim": "The rate of expenditure growth can be adjusted according to the fiscal consolidation needs, the need to reduce the size of the public sector, and take into account of rigidities in the budgetary items.",
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          "quote": "The rate of expenditure growth can be adjusted according to the fiscal consolidation needs, the need to reduce the size of the public sector, and take into account of rigidities in the budgetary items.",
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      "in_conservative_set": false,
      "recommendation_id": "cr-2012-004-rec-0180"
    },
    {
      "text": "The simulation is based on the following baseline assumptions: (i) the new fiscal policy objectives will be introduced in 2013 and commence in 2014, when output is expected to be at its potential level; (ii) the targeted debt ratio of 60 percent of GDP will be achieved in 7 years; (iii) the 2014 projected general government debt ratio of 96 percent of GDP combined with a consolidation horizon of 7 years implies that the authorities should set as a fiscal objective an average surplus of at least 1.5 percent of GDP over the consolidation period.",
      "verbatim": "The simulation is based on the following baseline assumptions: (i) the new fiscal policy objectives will be introduced in 2013 and commence in 2014, when output is expected to be at its potential level; (ii) the targeted debt ratio of 60 percent of GDP will be achieved in 7 years; (iii) the 2014 projected general government debt ratio of 96 percent of GDP combined with a consolidation horizon of 7 years implies that the authorities should set as a fiscal objective an average surplus of at least 1.5 percent of GDP over the consolidation period.",
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          "quote": "sustainability and intergenerational fairness over the long term, the Statement of Fiscal Policy should also present long-term economic and fiscal projections covering 30-50 years and include a range of scenarios based on different assumptions of long-term economic, demographic, and other developments (as recommended in Chapter V).",
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      "confidence": 0.65,
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      "recommendation_confidence_tier": "medium",
      "conservative_recommendation": false
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    {
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          "quote": "The Medium-term Budget Strategy should cover the previous year, current year, budget year, and subsequent three years and include:",
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      "evidence": [
        {
          "evidence_id": "ev-299a6f7d1da2ac67",
          "page": 44,
          "quote": "The OBL should specify the scope of the government’s authority to reallocate resources between legal appropriations during budget execution.",
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    {
      "observation_id": "cr-2012-004-obs-0053",
      "recommendation_id": "cr-2012-004-rec-0075",
      "relation": "contextually_associated_with",
      "link_basis": "same_or_adjacent_page_lexical_similarity",
      "evidence": [
        {
          "evidence_id": "ev-ec1f12c56fb51739",
          "page": 44,
          "quote": "budget management, the law should permit the government to reallocate resources between programs/policies areas up to 3 or 5 percent of the total approved budget of the ministry; and",
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          "quote": "Claims on the contingency reserve should be deducted from the stock of underspends that a ministry can carry over to the next year.",
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      "observation_id": "cr-2012-004-obs-0060",
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        {
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          "quote": "According to Article 26 of the FRA, the government must seek, through the annual Budget, the Althingi’s approval for not only expenditure but also other claims on taxpayers including borrowing and guarantees.",
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      "observation_id": "cr-2012-004-obs-0061",
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          "page": 49,
          "quote": "Articles 30 and 41 should be expanded to require all public entities to ensure that any multi-year financial commitments are affordable within their medium-term budget plans and consistent with the government’s medium-term fiscal objectives.",
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      "observation_id": "cr-2012-004-obs-0061",
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        {
          "evidence_id": "ev-9816fdee489c9736",
          "page": 49,
          "quote": "For ministries, Althingi approval should be required for all multi-year commitments",
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      "observation_id": "cr-2012-004-obs-0061",
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          "page": 49,
          "quote": "Furthermore, public corporations should not be given blanket authority to conclude major contracts with third parties without first seeking authorization from the government, their major shareholder.",
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      "observation_id": "cr-2012-004-obs-0061",
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      "evidence": [
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          "evidence_id": "ev-5d519aa8219f9503",
          "page": 49,
          "quote": "However, the same does not apply to PPP contracts where only flow of payments for the budget year and next three years needs to be reflected in the Budget.",
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    {
      "observation_id": "cr-2012-004-obs-0060",
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          "page": 49,
          "quote": "The range of non-expenditure approvals granted by Parliament in the annual Budget resolution under Article 26 of the FRA should be expanded to include an annual ceiling on the total value of new public private partnership contracts that can be signed by the government that year.",
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    {
      "observation_id": "cr-2012-004-obs-0068",
      "recommendation_id": "cr-2012-004-rec-0093",
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      "link_basis": "same_or_adjacent_page_lexical_similarity",
      "evidence": [
        {
          "evidence_id": "ev-993302b65bdae4b8",
          "page": 53,
          "quote": "Recommendation 4.1: Cash Management: The law should include an obligation on government to manage cash efficiently, ensuring that (a) payments are not made in advance of need; (b) borrowing costs are minimized; and (c) invoices are paid on time.",
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    {
      "observation_id": "cr-2012-004-obs-0076",
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          "evidence_id": "ev-38a2bd6b5bc3ccb4",
          "page": 58,
          "quote": "In both cases, the latter can be exceeded without prior authorization by Parliament but must be authorized in a final supplementary or “rectifying” budget.",
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    {
      "observation_id": "cr-2012-004-obs-0078",
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          "evidence_id": "ev-38a2bd6b5bc3ccb4",
          "page": 58,
          "quote": "In both cases, the latter can be exceeded without prior authorization by Parliament but must be authorized in a final supplementary or “rectifying” budget.",
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      "observation_id": "cr-2012-004-obs-0078",
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          "page": 58,
          "quote": "The new OBL should require any unbudgeted expenditure that cannot be accommodated through the utilization of the virement rules or funded from the contingency reserve to be authorized by the Althingi through a Supplementary Budget.",
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    {
      "observation_id": "cr-2012-004-obs-0077",
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      "evidence": [
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          "evidence_id": "ev-1bbd77a4ebc16a69",
          "page": 58,
          "quote": "These provisions undermine not only the credibility and integrity of the annual Budget but also the fundamental principle that all expenditure of taxpayer money must be authorized by Parliament before it can take place.",
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    {
      "observation_id": "cr-2012-004-obs-0080",
      "recommendation_id": "cr-2012-004-rec-0118",
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      "evidence": [
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          "evidence_id": "ev-2817383d0f88f24c",
          "page": 59,
          "quote": "The Committee may call the responsible Minister, Permanent Secretary, and Finance Director to a public hearing to account for the overspending or infraction before deciding whether the expenditure should be (i) authorized through a “vote of excess” or (ii) referred for administrative, financial, or criminal sanction.",
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    {
      "observation_id": "cr-2012-004-obs-0084",
      "recommendation_id": "cr-2012-004-rec-0122",
      "relation": "contextually_associated_with",
      "link_basis": "same_or_adjacent_page_lexical_similarity",
      "evidence": [
        {
          "evidence_id": "ev-60850034c0f465b3",
          "page": 61,
          "quote": "The reporting required under Iceland’s FRA, or provided by the government in practice, is mostly in line with international standards, and many features of the existing system should be preserved.",
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    {
      "observation_id": "cr-2012-004-obs-0084",
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          "evidence_id": "ev-c69ef0d1bc940859",
          "page": 62,
          "quote": "The main improvements that should be reflected in the reporting provisions of a new OBL can be grouped under the following headings:",
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      "observation_id": "cr-2012-004-obs-0085",
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          "page": 64,
          "quote": "Fiscal reporting should offer a panoramic view of the public sector, as well as close-ups of meaningful subsectors like central government, local government, and public corporations.",
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          "page": 66,
          "quote": "The first option is unsatisfactory, and government should produce consolidated financial statements for at least the entities it controls.",
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      "observation_id": "cr-2012-004-obs-0088",
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          "evidence_id": "ev-cb0fda52def74781",
          "page": 66,
          "quote": "The first option is unsatisfactory, and government should produce consolidated financial statements for at least the entities it controls.",
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      "observation_id": "cr-2012-004-obs-0089",
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          "page": 68,
          "quote": "The government’s financial statements should cover either :",
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      "observation_id": "cr-2012-004-obs-0089",
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      "link_basis": "same_or_adjacent_page_lexical_similarity",
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        {
          "evidence_id": "ev-b9be01e14afeee49",
          "page": 68,
          "quote": "The move to greater fiscal cooperation between central and local government raises the question of whether the scope of the government’s audited financial statements should be further extended to also cover local governments.",
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    {
      "observation_id": "cr-2012-004-obs-0090",
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      "relation": "responds_to_context",
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      "evidence": [
        {
          "evidence_id": "ev-b11fbf27e22f23ae",
          "page": 69,
          "quote": "Fiscal reporting should also provide information on a broad range of fiscal stocks and fiscal flows.",
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    {
      "observation_id": "cr-2012-004-obs-0094",
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      "relation": "contextually_associated_with",
      "link_basis": "same_or_adjacent_page_lexical_similarity",
      "evidence": [
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          "evidence_id": "ev-655dc0fba4440fa0",
          "page": 71,
          "quote": "The accounting required by the OBL should ensure that ministries, institutions, and the government itself recognize nonfinancial assets on their balance sheets.",
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    {
      "observation_id": "cr-2012-004-obs-0097",
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      "relation": "responds_to_context",
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          "page": 79,
          "quote": "However, setting a looser objective for the overall fiscal balance would imply a much longer horizon to reduce public debt and allow the public finances to drift away from a sustainable path should a new large negative shock happen in the interim.",
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    {
      "observation_id": "cr-2012-004-obs-0101",
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      "relation": "responds_to_context",
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      "evidence": [
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          "evidence_id": "ev-60b4713d3b11a295",
          "page": 81,
          "quote": "The rate of expenditure growth can be adjusted according to the fiscal consolidation needs, the need to reduce the size of the public sector, and take into account of rigidities in the budgetary items.",
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      ],
      "confidence": 0.78,
      "review_status": "unreviewed",
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    {
      "observation_id": "cr-2012-004-obs-0103",
      "recommendation_id": "cr-2012-004-rec-0182",
      "relation": "responds_to_context",
      "link_basis": "same_paragraph",
      "evidence": [
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          "evidence_id": "ev-78e5ea4aecbe0f13",
          "page": 82,
          "quote": "The expenditure limit helps reduce debt rapidly under a boom-bust scenario, but needs to be supplemented with a stringent correction mechanism (deficit brake) in order to avoid reversal during a bust.",
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      ],
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    {
      "observation_id": "cr-2012-004-obs-0104",
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      "relation": "responds_to_context",
      "link_basis": "same_paragraph",
      "evidence": [
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          "evidence_id": "ev-f9ce21bf06ec22e5",
          "page": 83,
          "quote": "These trade-offs need to be considered carefully before selecting a specific numerical fiscal objective in Iceland’s first Statement of Fiscal Policy following the adoption of the OBL.",
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      ],
      "confidence": 0.78,
      "review_status": "unreviewed",
      "recommendation_type": "normative_modal_candidate",
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      "conservative_recommendation": false
    },
    {
      "observation_id": "cr-2012-004-obs-0105",
      "recommendation_id": "cr-2012-004-rec-0183",
      "relation": "responds_to_context",
      "link_basis": "same_paragraph",
      "evidence": [
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          "evidence_id": "ev-f9ce21bf06ec22e5",
          "page": 83,
          "quote": "These trade-offs need to be considered carefully before selecting a specific numerical fiscal objective in Iceland’s first Statement of Fiscal Policy following the adoption of the OBL.",
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      ],
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      "recommendation_type": "normative_modal_candidate",
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