ВЕРТИКАЛЕН ФИСКАЛЕН ДИСБАЛАНС В БЪЛГАРИЯ В ПЕРИОДА 2003-2017г.
VERTICAL FISCAL IMBALANCE IN BULGARIA IN THE PERIOD 2003- 2017

Summary/Abstract: The aim of the study is to present the evolution of vertical fiscal imbalance in Bulgaria, considering the contribution of revenue decentralization and expenditure decentralization as well as local governments’ revenue effort. With this respect we first reviewed and discussed the indicators of vertical fiscal imbalance applied. We than performed an assessment of vertical fiscal imbalance in Bulgaria during the period 2003-2017 in order to reflect the impact of its determinants. The results demonstrate that the vertical fiscal imbalance in Bulgaria has been generally narrowing. Regardless of that, the fiscal imbalance remains considerably large in comparison with the imbalances between expenditure and revenue assignment in public sectors of other EU countries. Key words: fiscal decentralization, vertical fiscal imbalance, local finance, own revenues

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