Republic of Srpska (Republika Srpska, RS) is one of the two political entities of Bosnia and Herzegovina, the other being the Federation of Bosnia and Herzegovina. It is defined by dense forests, mountains and rivers.
In the shadow of the Brexit saga, the European Commission presented reports on the procedure for coordinating economic policy in EU countries. In seven of them, the scale of the reduction of imbalances is unsatisfactory.
The macroeconomic imbalances in the economies of the European Union member states are improving slowly but surely. The survey on imbalances conducted by the European Commission assesses risks of another crisis.
The hidden public debt is important for the sustainability of public finances, both in Poland and in the world. The latest financial crisis and expanding a scope of state responsibilities have contributed to the global increase in this type of debt.
In December 2018, the National Assembly of the Republic of Serbia adopted the state budget for 2019. The GDP growth is projected to be 3.5 per cent, and the budget deficit is estimated at 0.4 per cent of GDP.
The functioning of the Belarusian economy under President Alexander Lukashenko's rule has already surprised many economic experts in Western Europe. Many of them have no idea how the country achieved a budget surplus, which in some sectors amounted to USD1.5bn.
In spite of the EU directive recommending the application of the fiscal rules and the supervision of the budget targets, in the years 2010-2016 only seven EU member states reduced their debt-to-GDP ratio.
Rapid devaluation of hryvnia, in spite of relatively stable macroeconomics, is a phenomenon puzzling Ukrainian economists. The IMF warns that deeper devaluation will lead to an increase in debt, which could leave the country on the verge of bankruptcy.