Stabilizacja makroekonomiczna państw Grupy Wyszehradzkiej w latach 1995–2024
Macroeconomic Stabilization in the Visegrad Group Countries, 1995-2024

Summary/Abstract: The aim of this article is to analyze the processes of macroeconomic stabilization in the Visegrad Group (V4) countries over the period 1995 - 2024. The study applies the Macroeconomic Stabilization Pentagon (PSM) model, which enables a synthetic evaluation of five key areas of economic balance: economic growth, inflation, unemployment, fiscal balance, and external balance. To deepen the analysis, selected indicators from the EU’s Macroeconomic Imbalance Procedure (MIP) were also used as a complementary tool, serving as an early warning mechanism for emerging macroeconomic risks. The study demonstrates that the stabilization process in the V4 countries was heterogeneous - ranging from severe imbalances during the transition period, through a consolidation phase following EU accession, to recent pandemic and geopolitical shocks. The in-depth analysis based on MIP indicators for 2024 reveals that the main sources of potential risks lie in the areas of external balance and competitiveness. The article concludes that the complementary use of the PSM model and the MIP procedure enhances the accuracy of macroeconomic diagnosis and supports the design of more resilient economic policy.

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