Fiscal Policies and Post-Crisis Recovery in Central and Eastern European Countreis of the European Union
Fiscal Policies and Post-Crisis Recovery in Central and Eastern European Countreis of the European Union

Author(s): Dimitar Chobanov
Subject(s): Politics / Political Sciences, Politics, Economy, National Economy, Economic policy, EU-Approach / EU-Accession / EU-Development, Fiscal Politics / Budgeting, Socio-Economic Research
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: fiscal policy; prudent fiscal policy; budget deficit; public debt; CEE countries
Summary/Abstract: Fiscal policy is one of the most significant instruments to impact economies, address income inequality and stimulate economic activity during recessions or downturns. Using an indicator approach the fiscal policies of CEE countries which are EU members in 2003-2023 are studied. There are thresholds beyond which higher budget expenditures to GDP ratios lead to higher deficits and higher public debts to GDP which could affect negatively economic performance. Therefore, fiscal discipline is crucial for sustainable public finances and important factor for economic growth.

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