Фискалната политика по време на външни шокове (има ли нужда от данъчна реформа?)
Fiscal Policy in Times of External Schocks (Is There a Need for Tax Reform?)

Author(s): Victor Yotzov
Subject(s): Economy, Public Finances
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: economic policy; macroeconomic management
Summary/Abstract: The last few years have been marked by various unfavorable events in the economic development of both the world and Bulgaria. The pandemic of early 2020 has caused serious economic damage, but it must be recognized that the global economy was already struggling from the slow recovery from the global financial crisis, the subsequent debt crisis, as well as the accumulated problems of huge liquidity and negative real interest rates. In these conditions, monetary instruments (in the countries that can use them, and Bulgaria is not among them) lose their significance, which transfers the responsibility for the economic policy exclusively to fiscal policy. The purpose of this study is to analyze the changes (if any) in the fiscal policy implemented in Bulgaria over the last decade in the context of the question – is there a need for tax reform.

• Details
• Contents