Fiscal policy of Slovak Republic in the process of European fiscal union creating

Economic Annals-ХХI: Volume 146, Issue 11-12, Pages: 24-27

Citation information:
Beňová, E. (2014). Fiscal policy of Slovak Republic in the process of European fiscal union creating. Economic Annals-XXI, 11-12, 24-27. https://ea21journal.world/index.php/ea-v146-06/

Elena Benova
PhD (Economics),
Associate Professor,
Head of Economics and Finance Department,
School of Economics and Management in Public Administration in Bratislava
16 Furdekova, Bratislava, 851 04, Slovak Republic
elena.benova@vsemvs.sk

Fiscal policy of Slovak Republic in the process of European fiscal union creating

Abstract. The globalisation process and extension of the international economic area brings not only positives, but also a number of questions and issues to which governments and integration groups search solutions. Contrary to monetary policy, fiscal policy has had a limited spatial dimension so far. It is predominantly a responsibility falling on the shoulders of national governments. Fiscal policy is related to different economic, social and cultural potential or territorial and administrative arrangement of individual countries, which prevents the full implementation of unified rules, valid for whole EU to a certain extent. The paper introduces the author’s view on unifying fiscal policy rules towards the European fiscal union from the perspective of the Slovak Republic.

Keywords: Budget Deficit; Public Debt; Budgetary Responsibility; Fiscal Policy; European Fiscal Union; Slovak Republic; EU

JEL Classification: E52; E62; F63

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Received 29.10.2014