PRINCIPLE OF EQUILIBRIUM IN NATIONAL BUDGET SYSTEM
APA 6th Edition
Vukojević, B. (2016). PRINCIPLE OF EQUILIBRIUM IN NATIONAL BUDGET SYSTEM. Poslovna izvrsnost, 10 (2), 259-259. Preuzeto s https://hrcak.srce.hr/170764
MLA 8th Edition
Vukojević, Branka. "PRINCIPLE OF EQUILIBRIUM IN NATIONAL BUDGET SYSTEM." Poslovna izvrsnost, vol. 10, br. 2, 2016, str. 259-259. https://hrcak.srce.hr/170764. Citirano 01.12.2023.
Chicago 17th Edition
Vukojević, Branka. "PRINCIPLE OF EQUILIBRIUM IN NATIONAL BUDGET SYSTEM." Poslovna izvrsnost 10, br. 2 (2016): 259-259. https://hrcak.srce.hr/170764
Vukojević, B. (2016). 'PRINCIPLE OF EQUILIBRIUM IN NATIONAL BUDGET SYSTEM', Poslovna izvrsnost, 10(2), str. 259-259. Preuzeto s: https://hrcak.srce.hr/170764 (Datum pristupa: 01.12.2023.)
Vukojević B. PRINCIPLE OF EQUILIBRIUM IN NATIONAL BUDGET SYSTEM. Poslovna izvrsnost [Internet]. 2016 [pristupljeno 01.12.2023.];10(2):259-259. Dostupno na: https://hrcak.srce.hr/170764
B. Vukojević, "PRINCIPLE OF EQUILIBRIUM IN NATIONAL BUDGET SYSTEM", Poslovna izvrsnost, vol.10, br. 2, str. 259-259, 2016. [Online]. Dostupno na: https://hrcak.srce.hr/170764. [Citirano: 01.12.2023.]
The development of the budget issues is accompanied by the emergence of numerous budgetary principles, of which the principle of budgetary balance should be specially emphasized. That is because this principle led to differing opinions between representatives of classical economic thought and Keynesian or neokeynesian school. The first are against any surplus or deficit in the state budget, while others in the budget deficit see a means of exit from the economic crisis. In this paper the balance in the Croatian state budget is analysed. The research has shown that there is a positive correlation between the budget deficit and the real rate of GDP growth. In addition, the author found that the Croatian budget has the characteristics of systematic budget deficit and, to a certain extent, it reflects the anti-cyclical economic policy. Due to the unfavourable image of public finance measured by gross debt to GDP ratio and by budget deficit to GDP ratio, Croatia was required to enter the excessive deficit procedure. This will significantly limit the government spending. Furthermore, the implementation of structural reforms are required, which should return the state budget back into the balance without compromising the economic growth.
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