ANALYSIS OF THE IMPACT OF AGREEMENT ON STABILITY, COORDINATION AND GOVERNANCE IN THE ECONOMIC AND MONETARY UNION ON THE USE OF FISCAL RULES IN EU COUNTRIES

Author:

Vynnychenko Nataliia, Sumy State University (2 Rymskogo-Korsakova Str., Sumy, Ukraine).

Lyulyov Olexiy, Sumy State University (2 Rymskogo-Korsakova Str., Sumy, Ukraine).

Language: ukrainian

Annotation:

The article is examined the impact of the Agreement on stability, coordination and governance in the economic and monetary Union on the use of fiscal rules in the EU countries. It is determined that a key component of this contract, which establishes the fiscal constraints, is a Fiscal contract, that provides simultaneous establishment of fiscal and debt rules. It is analyzed the fiscal conditions of the contract. According to these conditions we should apply automatic mechanisms of correction that to eliminate considerable deviations from the medium- terms of purposes. It is shown the mechanisms of accounting for deviations and correction mechanism for states, which have signed the Agreement and consequences of the impact of these fiscal constraints on the economic estimates of EU countries. It is analyzed the experience of using fiscal rules in most EU countries for the purpose of further study their impact on the estimates of the economy and study the rise of conditions, under which they have deviations.

Key words:

international experience; budgetary sphere; budget policy; budget management; fiscal rules; debt rules; rules of the budget balance; rules of expenditure; rules of income

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