Prague Economic Papers 1999, 8(1) | DOI: 10.18267/j.pep.37

Fiscal issues in post-communist economies: a pragmatic and aggressive fiscal rule

Bruno Sergio Sergi

This paper illustrates why a tough fiscal policy in East Europe may be rethought. Western economic policy theories may be fashionable but sometimes fail when applied to transition economies. It is advanced a new proposal for guiding fiscal policy where top priority is given to the ratio government debt/GDP and not to implement a tough deficit policy. Selected transition economies have low debt, then a more pragmatic economic strategy combined with a feasible and wise budget rule on fiscal policy may build up a scenario of economic recovery and sustainable membership in a perspective enlarged European Union.

Keywords: fiscal policy, economies in transition

Published: January 1, 1999  Show citation

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Sergi, B.S. (1999). Fiscal issues in post-communist economies: a pragmatic and aggressive fiscal rule. Prague Economic Papers, 8(1), . doi: 10.18267/j.pep.37
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