Konstrukcja długu publicznego w Polsce i w pakcie fiskalnym
Construction of public debt in Poland and in the fiscal pact

Author(s): Mariusz Kociszewski
Subject(s): Law, Constitution, Jurisprudence, International relations/trade, Security and defense, Public Finances
Published by: Wydawnictwa Uniwersytetu Warszawskiego
Keywords: public debt; European Fiscal Compact; debt brake rule; debt-GDP ratio
Summary/Abstract: The purpose of this study was to investigate the issue of regulations on public debt in the Polish law and in the European Fiscal Compact (the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union). The work presents the most important information about the debt brake rule, included in the Constitution of Poland and the Public Finances Act of August 27, 2009, which has obliged Poland to reduce the debt-GDP ratio when it exceeds 60% and undertake certain steps when it approaches 50% and 55%. It also examines a similar rule in the Fiscal Compact, methods of monitoring the debt rule in Poland and in the EU and the exaction of penalties. The conclusions of the study is that Polish regulations had been well-designed and served their purpose. However, there are serious doubts about effectiveness of the Fiscal Pact.

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