Dimitrova, Eftimija and Georgieva Svrtinov, Vesna and Miteva-Kacarski, Emilija and Dimitrova, Janka (2019) Analysis of the budget and the public debt of Republic of Macedonia in the period 2008-2018. In: XII. International Balkan and Near Eastern Congress Series on Economics, Business and Management .
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Abstract
The Budget of the Republic of Macedonia is an annual plan for financing the functions and liabilities of the Republic of Macedonia, of the units of local self-government and of the funds, consisting of an annual estimate of the revenue and expenditure by purpose. An annual estimate means a 12-month fiscal year that begins on January 1 and ends on December 31 of each calendar year and applies only to the fiscal year for which it is adopted.
A budget deficit or, to put it mildly, a shortfall in the treasury is the negative difference between total revenues (lower item) and total expenditures (larger item) of the budget on a yearly basis. The budget deficit is money that the government does not have, and plans to spend and therefore has to borrow. It can be expressed in absolute terms, but is usually expressed as a percentage of a country's GDP. Putting the deficit under control is important for keeping debt at a sustainable level
Public debt or general government debt is the sum of central government debt, municipal debt, public enterprises and funds’ debt, the debt of the Macedonian Bank for Development Promotion and similar institutions.
The subject of this paper is the Budget of the Republic of Macedonia for the period 2008-2018, separately elaborating the budget balance (expressed in absolute numbers and as a% of GDP), the structure of the budget revenues and tax revenues, the structure of total and current expenditure, fiscal transfers and the public debt (expressed in absolute terms and in% of GDP). The period 2008-2018 has been selected to analyze the years following the economic crisis from 2008 until the last fiscal year 2018.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Economics |
| Depositing User: | Janka Dimitrova |
| Date Deposited: | 30 Oct 2019 09:49 |
| Last Modified: | 11 Feb 2020 12:58 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/22750 |
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