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FISCAL POLICY AND ECONOMIC DEVELOPMENT IN THE EU AND EUROZONE MEMBER STATES

TEODORA DINOVA

 

Abstract

This report was prompted by interest in the problems of economic development in the modern world and examines the real GDP growth rates in European Union and Euro zone during the period 2002-2013. This paper is intended to study the dynamics of main fiscal policy indicators such as total general government revenue and expenditure, general government deficit/surplus and general government gross debt, calculated as percentage of the GDP. The study aims to explore the possibilities of fiscal policy coordination in the EU and Euro zone and consolidated fiscal rules in the member states. The results show that in recent five years a person tends to improve macroeconomic performance and overcome the consequences of global financial and economic crisis. It must be concluded that there is dependence in the rate of economic growth in the decade before, during and after the crisis.

 

Key words

Fiscal Policy, General Government Revenue and Expenditure, Deficit/Surplus, General Government Gross Debt, Economic Development

 

References

Владимиров, Вл. 2011. Фискална политика и макроикономическа стабилизация, ИК Стено, Варна

Стоилова, Д. 2008. Икономика на публичния сектор, БОН, Благоевград

Хубенова - Делисивкова, Т. 2013. Кризата в икономическия и паричен съюз на ЕС: рисковете за стопанския растеж и перспективите за институционални промени, Доклад от девета международна конференция „Инвестиции в бъдещето”, Варна

European Commission, Public Finances in EMU 2004, A Report by the Commission Services. 2004

Eurostat. Statistics, http://epp.eurostat.ec.europa.eu/

 

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