Fiscal Rules and Sustainability of Bulgarian Public Finance - Legislative Aspects

Lyudmil Naydenov ()

Regional Economy and Sustainable Development, Conference Proceedings 2017, 2018, issue 2, 42-53

Abstract: This paper explores the issues related to the theoretical foundations, numerical measures and advantages of the fiscal rules defined in the Bulgarian Public Finance Act. It specifies that the budgetary rules can be systematized into five groups – Structural budget deficit rules; Budget balance rules; Debt Rules; Expenditure rules; Revenue rules. The content of each set of rules is outlined and the dynamics of the budget balance, government debt, budget expenditures and revenues respectively is analyzed, drawing conclusions on the compliance of the actual numerical values with the reference numerical values. The paper summarizes that the rules analyzed guarantee the stability of fiscal policy and the sustainability of the medium-term budgetary framework.

Keywords: fiscal rules; government debt; budget balance; budget deficit. (search for similar items in EconPapers)
JEL-codes: A00 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:vra:pr1803:y:2018:i:2:p:42-53

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