Specific Implementation of Fiscal Policy in Some New EU Members, Former Communis Countries
AbstractThe fiscal policy has been a part of the economic policy, contributing by specific means to drawing up the economical program of governance. The fiscal policy, seen as specific field of the economical policy, represents the conception and immediate action on organization, management and carrying out the fiscal activities; in other words, one should understand that fiscal policy signifies an assembly of methods, techniques and principles, which concern the operations, relationships, institutions and stipulations within fiscal field. Considering the current integration on the European unique market, the member states are liable to monitor the size of budgetary balance on current account and the public debt inventory, so that they will be able to comply with the restrictions stipulated in The Treaty of Maastricht (1992) and completed by The Settlement of Economic Steadiness and Growth (1997). The two agreements foresee special mechanisms in coordinating the fiscal and budgetary policies, assuming the drawing up of steadiness programs able to aim towards the re-equilibration on short term, or storing the budgetary surplus on long term. In this way, both the East-European states, currently candidates to Euro area, and the West- European states, before the adhesion to Monetary European Union, have started strategies of fiscal adjustment; these strategies consisted of measures able to ensure the necessary conditions on fulfilling the objectives imposed by means of nominal convergence criteria. In this paper, an analysis was proposed over both the changes carried out by the fiscal policy that was adopted by after- communism countries, members of European Union, and over the challenges created by fiscal policy, in conditions of experiencing results of the current economic crisis. The research method consists of storing, analyzing and comparing the data concerning the fiscal policy tools and the budgetary deficiency over EU member countries, provided by Eurostat database.
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Bibliographic InfoArticle provided by Ovidius University of Constantza, Faculty of Economic Sciences in its journal Ovidius University Annals, Economic Sciences Series.
Volume (Year): X (2010)
Issue (Month): 1 (May)
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Web page: http://www.univ-ovidius.ro/facultatea-de-stiinte-economice
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fiscal policy; governmental income and expense; budgetary deficiency;
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