APPROACHES SPECIFIC TO CHANGES PERFORMED BY THE FISCAL POLICY WITHIN AFTER-COMMUNISM COUNTRIES, MEMBERS OF EU
Irina Ştefana Cibotariu, Anişoara Apetri
Considering the current integration on the European unique market, the member states are liable to monitor the size of budgetary balance on current account and the public debt inventory, so that they will be able to comply with the restrictions stipulated in The Treaty of Maastricht (1992) and completed by The Settlement of Economic Steadiness and Growth (1997). The two agreements foresee special mechanisms in coordinating the fiscal and budgetary policies, assuming the drawing up of steadiness programs able to aim towards the re-equilibration on short term, or storing the budgetary overplus on long term. In this way, both the East-European states, currently candidates to Euro area, and the West-European states, before the adhesion to Monetary European Union, have started strategies of fiscal adjustment; these strategies consisted of measures able to ensure the necessary conditions on fulfilling the objectives imposed by means of nominal convergence criteria. In this paper, an analysis was proposed over both the changes carried out by the fiscal policy that was adopted by after-communism countries, members of European Union, and over the challenges created by fiscal policy, in conditions of experiencing results of the current economic crisis. The research method consists of storing, analyzing and comparing the data concerning the fiscal policy tools and the budgetary deficiency over EU member countries, provided by Eurostat database.
Key words: Fiscal Policy, Public Debt, The Governmental Income and Expense