fiscal policy | Institute of Central Europe

Baltic Team

IEŚ Commentaries 1175

Marlena Gołębiowska - Baltic Team

Poland, Slovakia, Hungary, and Romania under the excessive deficit procedure

After the pandemic-related loosening of fiscal rules – in the new framework following the reform – the EU’s excessive deficit procedure is returning. On 26 July 2024, the Council of the European Union decided to initiate it against seven member states, including three from Central Europe: Poland, Slovakia, and Hungary. This is the result of failing to meet the deficit...

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Baltic Team

IEŚ Commentaries 941

Bartosz Jóźwik - Baltic Team

Public Finance Sector Stability in Central European Countries (Part 3)

The Spring 2023 economic forecasts published by the European Commission indicate that, despite a gradual improvement in the stability of the public finance sector, many Central European countries will continue to experience budget deficits exceeding 3% of GDP. The largest budget deficits will be observed in Slovakia and Poland. Despite these challenges, both economies will...

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Baltic Team

IEŚ Commentaries 939

Bartosz Jóźwik - Baltic Team

Public Finance Sector Stability in Central European Countries (Part 2)

In 2022, among eleven Central European countries, five of them had budget deficits that exceeded the agreed limit of 3% of GDP. According to the latest data from Eurostat, the highest budget deficits, and consequently, the greatest challenges for the stability of the public finance sector, were recorded in Hungary and Romania. Hungary, thanks to its expansive fiscal policy,...

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Baltic Team

IEŚ Commentaries 916

Bartosz Jóźwik - Baltic Team

Public Finance Sector Stability in Central European Countries (Part 1)

During deep recessions such as those triggered recently by the COVID-19 pandemic and the war between Russia and Ukraine, ensuring stability in the public finance sector is not an easy task. In EU countries, this stability is associated with maintaining budget deficits and public debt below the levels required by the Maastricht criteria. In 2022, many Central European countries...

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