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.
In December the National Assembly of the Republic of Serbia voted for the Budget for 2018. The total projected costs are RSD1,207bn, while the total projected government revenues amount to RSD1,178bn.
The determinants of economic growth expected in the coming years suggest that the times of a large budget, treated in Russia as the guarantee of stable economic growth, have irrevocably become a thing of the past.
Four months into budget implementation, the State budget deficit amounted to PLN 31.7 billion, that is nearly 90 per cent of the total value planned for the year. It is almost certain that tax revenues will be lower than expected. The introduction of an amendment to the budget act, the first...