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Fiscal aspects of accession: can we anter the European Union with a budgetary deficit?

In: Croatian Accession to the European Union: Institutional Challenges

Author

Listed:
  • Judita Cuculic

    (International Monetary Fund, Zagreb)

  • Michael Faulend

    (Croatian Natrional Bank, Zagreb)

  • Vedran Sosic

    (Croatian Natrional Bank, Zagreb)

Abstract

Although there is no common fiscal policy at the European Union (EU) level in Croatia, accession will entail important changes in budgetary revenue and expenditure. On the one hand, accession brings transfers from the EU budget, but also means the loss of customs revenue as well as the need to adjust the structure of tax revenue. On the other hand, in conjunction with significant expenditure for adjustment in areas such as transportation and the environment, as well as expenditures for the EU budget, there will be a change in the structure of expenditure,in order to be able to check on transfers from the Structural Funds. The objective of this paper is to evaluate the intensity and direction of fiscal effects that accession will lead to, as well as the changes in their structure and the possibility of meeting the convergence criteria.

Suggested Citation

  • Judita Cuculic & Michael Faulend & Vedran Sosic, 2004. "Fiscal aspects of accession: can we anter the European Union with a budgetary deficit?," Chapters in books, in: Katarina Ott (ed.), Croatian Accession to the European Union: Institutional Challenges, volume 2, chapter 3, pages 49-77, Institute of Public Finance.
    • Handle: RePEc:ipf:chaptr:2-03
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    File URL: http://www.ijf.hr/eng/EU2/cuculic-faulend-sosic.pdf
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    References listed on IDEAS

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    1. Catherine Mathieu & Henri Sterdyniak, 2003. "Reforming the Stability and Growth Pact: Breaking the Ice," SciencePo Working papers Main hal-00972861, HAL.
    2. repec:hal:wpspec:info:hdl:2441/1933 is not listed on IDEAS
    3. repec:hal:spmain:info:hdl:2441/1933 is not listed on IDEAS
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    Cited by:

    1. International Monetary Fund, 2008. "Republic of Croatia: Selected Issues," IMF Staff Country Reports 2008/159, International Monetary Fund.
    2. Katarina Ott, 2005. "Croatia and the European Union: accession as transformation," Chapters in books, in: Katarina Ott (ed.), Croatian Accession to the European Union: Facing the Challenges of Negotiations, volume 3, chapter 1, pages 1-29, Institute of Public Finance.
    3. Drazen Derado, 2009. "Financial Integration and Financial Crisis: Croatia Approaching The EMU," Financial Theory and Practice, Institute of Public Finance, vol. 33(3), pages 299-328.
    4. Etibar Jafarov & Victoria Gunnarsson, 2008. "Efficiency of Government Social Spending in Croatia," Financial Theory and Practice, Institute of Public Finance, vol. 32(3), pages 289-320.
    5. Ms. Victoria Gunnarsson & Mr. Etibar Jafarov, 2008. "Government Spending on Health Care and Education in Croatia: Efficiency and Reform Options," IMF Working Papers 2008/136, International Monetary Fund.

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