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

Judita Cuculic, Michael Faulend and Vedran Sosic
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Judita Cuculic: International Monetary Fund, Zagreb
Michael Faulend: Croatian Natrional Bank, Zagreb
Vedran Sosic: Croatian Natrional Bank, Zagreb

Chapter 3 in Croatian Accession to the European Union: Institutional Challenges, 2004, vol. 2, pp 49-77 from Institute of Public Finance

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.

Keywords: fiscal policy of Croatia; structural funds of the European Union; harmonisation of tax legislation; convergence criteria (search for similar items in EconPapers)
Date: 2004
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