Фіскальна стійкість європейських країн в контексті сучасних викликів та загроз

Abstract

UA: У статті проведено ідентифікацію проблемних зон і систематизовано виклики фіскальній стійкості, що стоять перед країнами Європейського Союзу. Серед основних викликів, що пов'язані зі стійкістю державних фінансів, виділено наступні: створення незалежних фіскальних інституцій, закони про фіскальну відповідальність, фіскальні правила та управління фіскальними ризиками. Встановлено, що європейські держави мають пристосуватися до непередбачених ситуацій, що не залежать від уряду, таких як великі коливання ділового циклу та супутні економічні кризи.

EN: The main task of this scientific article is to systematize and summarize the main challenges to fiscal stability facing the Member States of the European Union, which must adapt to unforeseen circumstances in a changing and unstable economic environment. In modern languages, the European community is compressed with a number of challenges, such as: overcoming the consequences of the financial crises, which have been especially felt over the past decade; a balanced way out of the restrictions caused globally by the pandemic; existence the commodity crisis caused by the Russian invasion of Ukraine. These factors highlighted some weaknesses in the management of the economic policy of European states. Through the use of specific indicators aimed at assessing European fiscal stability, the specific and problematic areasand challenges facing the countries of the European Union have been identified. Among the main challenges associated with the sustainability of public finances are the following: the creation of independent fiscal institutions, laws on fiscal responsibility, fiscal rules and fiscal risk management. The topic is relevant, as the deterioration of global fiscal stability highlighted the need to study relevant indicators that aim to assess the current state and outline future trends in European public finances. The sustainability of public finances (fiscal sustainability) isthe ability of the government to maintain and control within acceptable limits its operating expenses and taxes, as well as to ensure a stable macroeconomic policy in the long term without threat. state solvency. It is noted that the sustainability of public finances is not an indirect problem, but concerns intergenerational capital and is related to its well-being. Maintaining a controlled public debt is a prerequisite for the proper functioning of the European economy. It has been established that European states must adapt to unforeseen situations beyond the control of the government, such aslarge fluctuationsin the business cycle and associated economic crises.