Koncepcje nowelizacji ustawodawstwa ograniczającego dług publiczny i zarządzanie długiem
Concepts of amendment of low restricting public debt and its management

Summary/Abstract: During last several years (2004–2016) the level of deficit and public debt has been worsened. Thefollowing key facts have crucial meaning: – significant sustained exceeding of the level 3% of the quotientdebt/GDP (exceed 7.3% in the years 2009, 2010), – exceeding of the level 50% debt/GDP (2010 year),and also 55% in 2010, – more than threefold increase of debt in initial 14 years of current century, – noexecution of regulations of the public debt strategy about: the quotient of debt/GDP, share of external debtin the treasury debt etc., – high level of profitability of the debt (the effect of excessive debt servicing costs,especially in comparison to non-crisis countries of EU, in the period of negative deposit rates of ECB).The level of servicing costs is a crucial pathology in the area of public finance. It indicates necessityof amendment of the low restricting public debt and practice of realization of debt strategy.It is indispensable to introduce the following rules: – to confine the level of servicing costs below 1%of GDP, – to observe regulations concerning excessive deficit procedure, and next – fiscal pact; non--fulfillment of low cannot be explained by lack of sanctions and cause no consequences; – to improvethe professional level of debt management (theory and practice) – with the use of current methodsof finance engineering and rules of best practice applied in UE countries, – to set up a committee forassessing of quality of debt management.The simulated computations show that reduction of excessive debt will last many years – in optimisticscenario about 5–7 years, in moderate (realistic) – several years. Significant improvement canoccur as a result: increase of rate of growth of GDP and raise of rating of the country.

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