Received: 2020-09-20  |  Accepted: 2021-02-10  |  Published: 2021-03-30

Title

Fiscal sustainability and fiscal risk in the EU: forecasts and challenges in terms of COVID-19


Abstract

This study focuses on examining the relationship between fiscal and debt sustainability indicators in EU Member States, based on the multidimensional approach to estimating and forecasting different time horizons applied by the European Commission. The relationship between fiscal sustainability and the numerical fiscal rules applied at national and supranational level in the context of the Stability and Growth Pact has been established. The dynamics of medium-term risks in the Member States of the European Union for the period 2015 - 2019 is traced. The main challenges to fiscal sustainability in the European space in the context of the COVID-19 pandemic are outlined.


Keywords

fiscal policy, fiscal rules, debt, fiscal sustainability, fiscal risk, COVID-19


JEL classifications

E62 , E63 , G28 , H62


URI

http://jssidoi.org/jesi/article/803


DOI


Pages

618-632


Funding


This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Zahariev, Andrey
D. A. Tsenov Academy of Economics, Svishtov, Bulgaria https://www.uni-svishtov.bg
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Radulova, Anelia
D. A. Tsenov Academy of Economics, Svishtov, Bulgaria https://www.uni-svishtov.bg
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Aleksandrova, Aleksandrina
D. A. Tsenov Academy of Economics, Svishtov, Bulgaria https://www.uni-svishtov.bg
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Petrova, Mariana
St. Cyril and St. Methodius University of Veliko Turnovo, Veliko Tarnovo, Bulgaria http://www.uni-vt.bg
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Journal title

Entrepreneurship and Sustainability Issues

Volume

8


Number

3


Issue date

March 2021


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

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References