Response of the Fiscal Policy on the Global Economic Crisis in the Republic of Macedonia
Journal
ANNUAL OF THE FACULTY OF ECONOMICS SKOPJE
Date Issued
2013
Author(s)
Abstract
Fiscal policy in terms of the global economic crisis gain the key "five
minutes" in the last three/four decades, and prove that it is still an important
tool for stabilization, especially for support/recovery of economies on national
and global lavel. Macedonia was not an exception of this global trends in this
Одговор на фискалната политика на глобалната економска криза во Р. Македонија 361
direction, although the support of fiscal policy (tax reform, reducing
contributions and introducing a flat tax) for the economy began in the pre-crisis
period. An important foundation that allow further active involvement of fiscal
policy in dealing with the global crisis was relatively good fiscal position of the
domestic economy in the pre-crisis period - low deficits and low public debt
(which was significantly reduced in the period before the crisis). The crisis was
the reason for enhanced fiscal activity in the domestic economy, further
analyzed by shifting fiscal positions (deficits, public debt, public spending, and
their structure etc..), and anti-crisis packages that were directly aimed at
reducing the effects of global economic crisis on domestic economy.
minutes" in the last three/four decades, and prove that it is still an important
tool for stabilization, especially for support/recovery of economies on national
and global lavel. Macedonia was not an exception of this global trends in this
Одговор на фискалната политика на глобалната економска криза во Р. Македонија 361
direction, although the support of fiscal policy (tax reform, reducing
contributions and introducing a flat tax) for the economy began in the pre-crisis
period. An important foundation that allow further active involvement of fiscal
policy in dealing with the global crisis was relatively good fiscal position of the
domestic economy in the pre-crisis period - low deficits and low public debt
(which was significantly reduced in the period before the crisis). The crisis was
the reason for enhanced fiscal activity in the domestic economy, further
analyzed by shifting fiscal positions (deficits, public debt, public spending, and
their structure etc..), and anti-crisis packages that were directly aimed at
reducing the effects of global economic crisis on domestic economy.
Subjects
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