Fiscal implications from the political crisis in the Republic of North Macedonia
Journal
Economic Development
Date Issued
2019-06
Author(s)
Kostadinoska Miloseska, Snezana
Abstract
In the paper fiscal implication are examined from the perspective of
the political crisis1
in the Republic of North Macedonia, which obviously
still endures. As consequence of that, the economy is in a state of perpetual
decline, among other things, public finances are deteriorating, i.e., there are
unfavorable fiscal implications.
For this purpose, the paper analyzes in detail the separate implications
of public revenues and expenditures, deficits and public debt. Тhe results
show a decline, both on the side of public revenues and on the side of
public expenditures. The most important thing is that the reduction of public
expenditures, especially capital expenditures, is larger part dependent from
political crisis. From the analysis made it is perceived that the deficit and the
debt in these crisis years were not adequately managed, nor serious structural
reforms started, nor with reforms in the management of public finances
the political crisis1
in the Republic of North Macedonia, which obviously
still endures. As consequence of that, the economy is in a state of perpetual
decline, among other things, public finances are deteriorating, i.e., there are
unfavorable fiscal implications.
For this purpose, the paper analyzes in detail the separate implications
of public revenues and expenditures, deficits and public debt. Тhe results
show a decline, both on the side of public revenues and on the side of
public expenditures. The most important thing is that the reduction of public
expenditures, especially capital expenditures, is larger part dependent from
political crisis. From the analysis made it is perceived that the deficit and the
debt in these crisis years were not adequately managed, nor serious structural
reforms started, nor with reforms in the management of public finances
Subjects
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