Fiscal Deficit and Public Debt in the Western Balkans: 15 Years of Economic Transition
July 24, 2015
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Summary
In this paper we analyze how Western Balkans public finances adapted to the boom-bust cycle. Large capital inflows into emerging European economies during the mid-2000s resulted in rapid economic growth and convergence to EU income levels. This also resulted in improved fiscal positions of most countries, on the back of strong revenue performance. Yet, since the onset of the global economic crisis, many countries have struggled to adjust to the new situation of lower external financing and lower growth.
Subject: Expenditure, Fiscal policy, Public debt, Revenue administration, Total expenditures
Keywords: country, debt, government, WP
Pages:
20
Volume:
2015
DOI:
Issue:
172
Series:
Working Paper No. 2015/172
Stock No:
WPIEA2015172
ISBN:
9781513566399
ISSN:
1018-5941
