Economic Archive

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  The Budget Balance – Technical and Financial Aspects

  The paper focuses on issues related to the procedure for determining the different types of budget balance in compliance with the consolidated fiscal programme (CFP) and the national budget, and their economic interpretation. The paper also specifies that the numeric value which states the difference between the value of receipts and the value of ... The paper focuses on issues related to the procedure for determining the different types of budget balance in compliance with the consolidated fiscal programme (CFP) and the national budget, and their economic interpretation. The paper also specifies that the numeric value which states the difference between the value of receipts and the value of outlays depends on the absolute sum of expenditure on interest payments on internal and external loans. The dynamics of the difference between the values of receipts and outlays under the CFP and under the national budget is analysed. We prove that the rate of change in the consolidated cash budget balance does not match the rate of change in the cash balance on the national budget. We also identify the relation between analysed balance variables and the reference values approved by the Maastricht Treaty and set in the Public Finance Act. An analysis is made of the effect which the rate of change in the nominal value of receipts and outlays exercises on the dynamics of analysed cash budget balances. Finally, we arrive at the conclusion that the value and the relative share of the budget balance in the GDP do not pose a threat to public finance stability.

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  Human Capital Development – Economic Effects and Market Aspects

  Human capital is the foundation of modern knowledge for growth, employment and social development. In terms of modern polity, we observe spending of large public resources, providing for both formation of national human capital through the system of government-funded education and long-term preservation of its generated value through the system of ... Human capital is the foundation of modern knowledge for growth, employment and social development. In terms of modern polity, we observe spending of large public resources, providing for both formation of national human capital through the system of government-funded education and long-term preservation of its generated value through the system of health care and social assistance. Seen through the prism of social choice theory, economics and labour market, human capital development is logically defined as a task of paramount importance in any modern political doctrine of social development. The aim of the study is to systematize and critically examine the basic issues related to the process of human capital development in terms of economic growth and labour market

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  Specific Vat Regimes in the EU - Methodical Cases and Solutions

  The differences in tax systems of the member-states of the European Union as well as the specific VAT regimes require passing through varying degrees of approximation, including the complete unification of some of them in order to improve tax collection. Thus the legal framework of the tax system of the EU sets taxes common to every state and ... The differences in tax systems of the member-states of the European Union as well as the specific VAT regimes require passing through varying degrees of approximation, including the complete unification of some of them in order to improve tax collection. Thus the legal framework of the tax system of the EU sets taxes common to every state and those which reflect national specificities and exist only by virtue of tradition or by the peculiarities of the economy of the country. They inherently have unique problems and differ from one another because the parties are free to choose a tax system that is considered to be the most effective for their conditions, provided that the general rules are observed.