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debt above 60 percent or deficits above 3 percent of GDP. We find that the proposed framework would require ambitious … fiscal adjustment: on average, more than 2 percent of GDP over the medium term, in addition to the adjustment that is already … framework. We also find that for most countries with debt above 60 percent of GDP, these adjustment requirements are driven by …
Persistent link: https://www.econbiz.de/10014372855
Persistent link: https://www.econbiz.de/10008907698
. The pre-crisis declines in CESEE debt/GDP ratios were largely the consequence of a very favourable relationship between …
Persistent link: https://www.econbiz.de/10008907726
This paper describes the particular impacts of the financial and economic crisis on central and eastern European (CEE) countries, studies pro-cyclicality of fiscal policies, discusses the impact of the crisis on fiscal policy, and the policy response of various governments. After drawing some...
Persistent link: https://www.econbiz.de/10003874233
The European Union's new fiscal framework aims to incentivise public investment and reforms by offering the option to extend the four-year fiscal adjustment period to seven years, thereby lowering the average annual fiscal adjustment requirement. Investments and reforms proposed by EU countries...
Persistent link: https://www.econbiz.de/10014497435