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.
The Bulgarian government approved the budget 2019, projecting a fiscal deficit of 0.5 per cent of GDP for the year under the national methodology compared to the expected 0.5 per cent of GDP budget surplus in 2018.
After a few relatively good years, Ukraine is again getting into difficulties with the balance of payments. Economists believe that the deficit is a worrying sign indicating the beginning of a cycle of capital outflow.
The fiscal policy in Croatia is largely based on the ad hoc discretionary measures. However, over the last ten years, especially after the crisis in 2008, an increasing number of countries are trying to ensure long-term sustainability of public finances.