Fiscal Deficit and Public Debt in the Western Balkans: 15 Years of Economic Transition

July 24, 2015

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Zsoka Koczan. Fiscal Deficit and Public Debt in the Western Balkans: 15 Years of Economic Transition, (USA: International Monetary Fund, 2015) accessed November 24, 2024

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

In this paper we analyze how Western Balkans public finances adapted to the boom-bust cycle. Large capital inflows into emerging European economies during the mid-2000s resulted in rapid economic growth and convergence to EU income levels. This also resulted in improved fiscal positions of most countries, on the back of strong revenue performance. Yet, since the onset of the global economic crisis, many countries have struggled to adjust to the new situation of lower external financing and lower growth.

Subject: Expenditure, Fiscal policy, Public debt, Revenue administration, Total expenditures

Keywords: Country, Debt, Government, WP

Publication Details

Pages:

20
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2015/172
Stock No:

WPIEA2015172
ISBN:

9781513566399
ISSN:

1018-5941

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