Budget deficits and public debt of the EU countries in an unstable environment
| dc.contributor.author | Truba, Arina A. | en |
| dc.contributor.author | Yakubovskyi, Serhii O. | en |
| dc.contributor.author | Труба, Аріна Андріївна | uk |
| dc.contributor.author | Якубовський, Сергій Олексійович | uk |
| dc.date.accessioned | 2025-02-13T16:52:53Z | |
| dc.date.available | 2025-02-13T16:52:53Z | |
| dc.date.issued | 2024 | |
| dc.description.abstract | The state budget deficit was normally a feature of the war period. In such circumstances, the expenditures on war outweighed the country’s budget revenues. However, at the end of the 20th century, budget deficits began to be observed in many countries without a good reason. This phenomenon is not always an indicator of an unhealthy economic environment. During a recession, when private investors reduce funding and a drop in supply and demand occurs, the government spends more to stimulate the economy. Nevertheless, the prolonged and growing public deficit further leads to higher taxes and cuts in public funding of education, healthcare, and other important areas. As the deficit accumulates, public debt also grows. Over the past five years, there have been enough shocks to increase these indicators. COVID-19 was the first to cause an increase in public debt, particularly in developed countries. In 2020, it average value reached the same level as right after World War II. Protocol 12 of the EU Stability and Growth Pact states that public debt should not exceed 60% of GDP. The research supporting this article, was partly sponsored by Central European University Foundation of Budapest (CEUBPF). The theses explained herein represent the ideas of the authors, and do not necessarily reflect the views of CEUBPF. | en |
| dc.identifier.citation | Truba A. Budget deficits and public debt of the EU countries in an unstable environment / A. Truba, S. Yakubovskiy // Реформування та стабілізація економіки в контексті міжнародного співробітництва : матеріали Всеукр. наук.-практ. конф. (Одеса, 25 жовт. 2024 р.) / відп. за випуск д.е.н., проф. С. О. Якубовський. – Львів–Торунь : Liha-Pres, 2024. – С. 178–181. | en |
| dc.identifier.doi | https://doi.org/10.36059/978-966-397-431-6-44 | |
| dc.identifier.orcid | https://orcid.org/0000-0002-1193-0241 | |
| dc.identifier.uri | https://dspace.onu.edu.ua/handle/123456789/40599 | |
| dc.language.iso | en | |
| dc.publisher | Liha-Pres | en |
| dc.subject | state budget deficit | en |
| dc.subject | public debt | en |
| dc.subject | the EU’s budget policy | en |
| dc.subject | the EU countries | en |
| dc.subject | COVID-19 | en |
| dc.title | Budget deficits and public debt of the EU countries in an unstable environment | en |
| dc.type | Article | en |
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