Тheoretical and applied provisions of the research of the state budget deficit in the countries of Central and Eastern Europe
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Date
2019Author
Shkarlet, S.
Dubyna, M.
Hrubliak, O.
Zhavoronok, А.
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Within the article, a comprehensive study of the state budget deficit in the Central
and Eastern Europe (CEE) countries is presented, the effectiveness of managing it is
determined. Considerable attention is paid to the deepening of methodical aspects of the
assessment of trends in the formation of revenues and expenditures of the identified budgets,
the algorithm for defining the deficit of the budget is detailed and it is tested in practice. The
obtained results provide an opportunity to establish that the size of the state's deficit depends
in part on the economic development of the state and at the same time, its existence can have
a positive effect on the growth rate of the national economy. In order to establish the
peculiarities of such interaction, a comparative analysis between the deficit ratio of the state
budgets and the level of GDP in the CEE countries is carried out. The study confirmed the
thesis on the correlation between these indicators and it was also possible to determine in
the long run (2007-2017) how these parameters changed. It is established that the
accelerated pace of GDP growth with simultaneous growth of the state budget deficit is an
indicator of its effective management, as economic growth allows for new, unplanned
revenues and other incomings that will reduce the size of the gap between revenues and
expenditures of such a budget. In turn, in case of rapid growth of the deficit against the
backdrop of insignificant growth rates of the country's GDP, it shows that some of the
country's financial resources are spent inefficiently and are not used to stimulate economic
development in the state. In this case, the funds are spent on the social sphere maintenance,
raising the level of economic provision of citizens of the state. However, such processes can
take place only in the short term, since the deficit itself will need to be further covered by
other revenue items of the budget. Taking into consideration the outlined, it is stated in the
article, that improper management of the state budget deficit may have long-term negative
consequences for the functioning
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