Proceedings of the 51st International Academic Conference, Vienna

THE IMPACT OF FISCAL RULES IN ACHIEVING THE STABILITY OF PUBLIC FINANCE – RESULTS FOR POLAND

AGNIESZKA PRZYBYLSKA-MAZUR

Abstract:

The European Union Member States are required to apply numerical fiscal rules that, while maintaining their consistency with fiscal rules defined in the EU framework, may include specific elements for individual the Member States. The rules should strengthen the conduct of responsible budgetary policies by governments and support adherence of fiscal policy commitments under the Treaty on the Functioning of the European Union (TFEU) in the multiannual framework with regard to the general government. In this article we present the model on the basis of which we assess the impact of fiscal rules on achieving the following objectives: the general government deficit to GDP ratio not exceeding 3% and government debt to GDP ratio not exceeding 60%. We carry out the empirical analysis for Poland.

Keywords: fiscal rule, stability of public finance, general government deficit, government debt

DOI: 10.20472/IAC.2019.051.034

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