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
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