Polish stabilization efforts in the sphere of budget for the period of 1995-2007. Considerations in context of planned accession to the euro zone
Marian Szołucha
SGH Warsaw School of Economics , PolandAbstract
There have been different phases of changes in the Polish public finances during the 1990s. In 1990, primarily due to liquidation of large subsidies, there was even a budget surplus recorded. But over the next two years, a sharp crisis occurred (caused mainly by a decrease of production). There was a deficit of around 6% of GDP. The situation has improved in the period 1993-1994. Then, up to 1998, despite the nominal decline in negative balance of the budget (caused by an increase of production), the structural deficit grew. So, taking the condition of Polish public finances into account, those years should be considered as largely wasted. Years 1999 and 2000 were the period of following failed attempts to reduce the deficit. Next years, in connection to the deterioration of the general economic downturn, brought only a systematic worsening of the situation. It was not until the revival, which took place in 2004, has enabled a reduction of the deficit back below 3% of GDP.
Keywords:
dostosowanie fiskalne, wysiłek stabilizacyjny, efekty niekeynesowskie, strefa euroReferences
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SGH Warsaw School of Economics
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This work is licensed under a Creative Commons Attribution 4.0 International License.
