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Fiscal Rules and Sustainability of Bulgarian Public Finance - Legislative Aspects

Author

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  • Lyudmil Naydenov

    (University of Economics - Varna)

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.

Suggested Citation

  • Lyudmil Naydenov, 2018. "Fiscal Rules and Sustainability of Bulgarian Public Finance - Legislative Aspects," Regional Economy and Sustainable Development, Conference Proceedings 2017, Research Institute, University of Economics - Varna, issue 2, pages 42-53, March.
    • Handle: RePEc:vra:pr1803:y:2018:i:2:p:42-53
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    Citations

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    Cited by:

    1. Stoyan Tanchev, 2019. "Tax structure and economic growth: empirical evidence from Bulgaria," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 5, pages 24-41,42-58.

    More about this item

    Keywords

    fiscal rules; government debt; budget balance; budget deficit.;
    All these keywords.

    JEL classification:

    • A00 - General Economics and Teaching - - General - - - General

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