International Journal of Advances in Management and Economics (IJAME)

ISSN:2278-3369
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TitleExternal and internal circumstances for the use of numerical fiscal rules in Poland (assessment of the debt rule and its efficacy).
AuthorMarta Monika Postula
AbstractAn efficient fiscal policy has proved to be a tremendous challenge for a wide range of states in the second decade of the 21st century. Complexities underlying public finances management is connected with the ramifications of the deepest financial downturn over the recent decades under the circumstances of the global financial market and advanced instruments, operations and transactions on an unprecedented scale. The current situation in the sector of public finances in numerous states is highly unstable with quite uncertain prospects which are unlikely to be assessed. Risk levels have soared disproportionately on domestic and international markets, thereby impeding efforts to overcome the slowdown and even shrinking the sphere of the real economies of various states. One of the most visible signs of this turbulence in economic life is continued sovereign debt at hazardously high levels. Against such a background, it was crucial to take decisions with regard to immediate measures, such as spending cuts or tax rises, as well as long-term measures reinforcing institutional and organizational frameworks in the sphere of public finances.
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