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Abuselidze George
ANALYSIS OF THE FORMATION
AND USE OF BUDGETARY POLICIES ENSURING THE SOCIO-ECONOMIC DEVELOPMENT OF TERRITORIAL UNITS
Summary:
The main function of the state in nowadays-civilized world is to maintain the macro-economic proportions throughout the country and avoid financial and economic crises in regions that have priority in the formation of the new economic system in Georgia.
The object of the research is the formation and use of Budget policy of Georgia;
One of the most problematic places is socio-economic development of territorial units;
As a result of the research it is shown that current economic and political system’s radical transformation process, creation of new economic system and ensuring its efficiency, requires mobilization of huge financial resources, which is impossible without proper functioning of the financial mechanism. This in turn requires implementation of sufficient financial and economic policy. The government should take responsibility of supporting financial-economic independence for territorial units.
In the future, the proposed forms of financial mechanisms and features of use for the arrangement and territorial integrity of the government.
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Cordelia Omodero
INFORMATION COMMUNICATION TECHNOLOGY TAXATION AND TAX EARNINGS IN A LOW-INCOME ECONOMY
Summary:
Over the years, information and communication technology has made its way into industrialized countries, and through technology transfer, it is also rapidly expanding in less developed ones. These technology advances provide distinct economic benefits to emerging countries such as Nigeria. Aside from market expansion, the advancement of information and communication technology has raised government revenue through the establishment of a specific fee on the revenues of corporations involved in broad technologically based operations. The primary goal of this research is to investigate the influen¬ce of national information communication technology development taxation on general tax income in Nigeria. This study covers a period from 2010 to 2019 using data gathered from OECD and FIRS statistics. The dependent variable is the total tax revenue and the predictor variables are the national information technology development levy (NITDL) or tax and trade openness. Using the regression analysis tool, the study finds that NITDL contributes positively and significantly to total tax income at 1% level of significance while trade openness contributes to tax revenue at 10% significance level. Both outcomes are significant and commendable. The policy implication is that the government should support all information communication technology growth in the country for more inflow of international business links and for tax revenue growth in the country. The study recommends stable power supply for effective application of information communication technologies such internet network, website developments and effective operations.
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Velichka Nikolova
DEBT SUSTAINABILITY OF EU MEMBER STATES: A CLUSTER ANALYSIS
Summary:
The aim of this article is to perform a cluster analysis of the EU member states in terms of their public debt sustainability. To this end, the existing theoretical constructs related to the concept of debt sustainability were reviewed in to determine the advantages and disadvantages of certain indicators for assessing debt sustainability. In the course of the research, the methodological grounds of the analysis were defined and the countries were grouped into four clusters.
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Velichka Nikolova
EFFECTS OF THE GLOBAL ECONOMIC CRISIS AND THE COVID-19 PANDEMIC ON SOVEREIGN DEBT MANAGEMENT IN HEAVILY INDEBTED COUNTRIES
Summary:
This article presents an analysis of the sovereign debt in some heavily indebted countries worldwide, including Venezuela, Sudan, Japan and Greece. Its main objective is to track and compare the initial effects of the global financial and economic crisis (2008) and the COVID-19 pandemic on sovereign debt levels in those countries. This is why it starts with a classification of the theoretical concepts addressing the relationship between economic crises and changes in the levels of sovereign debt. It then defines the main drivers for the sharp increase of the sovereign debt in these countries and describes the dynamics of the revenues, expenditures and balances of their budgets.
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Dimcho Ivelinov Shopov
ANALYSING AND FORECASTING THE DEBT BURDEN OF THE EU COUNTRIES: IS THERE A NEW EUROPEAN DEBT CRISIS ON THE HORIZON?
Summary:
The debt crisis which afflicted Europe highlights the weaknesses and instability of the EU member states' financial systems, as well as the inability of their national economies to maintain normal levels of indebtedness. The deteriorating economic environment requires changes in the fiscal policies across Europe. These changes are effected using new financial instruments to raise the necessary funds for implementation of economic reforms in the EU member states. The aim of this study is to analyse the current levels of sovereign debt across the European Union and to forecast their development in the future using specialized econometric software. The results may be used to identify possible future economic shocks in Europe.
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Presiana Nenkova, Angel Angelov
ASSESSMENT OF THE FISCAL STANCES OF THE BALKAN STATES
Summary:
The research paper presents an assessment of key budgetary and socio-economic indicators to reveal the effects of the models of public finance management adopted by the countries on the Balkan Peninsula. Based on these indicators, the analysis determines the fiscal stance of each Balkan country before, during and after the global economic crisis. The results of the analysis show a significant degree of similarity in the discretionary measures taken, but at the same time some more pronounced deviations from the general economic development of the Balkans.
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Veniamin Todorov
STABILIZATION ROLE OF THE MACROECONOMIC POLICY DURING THE COVID-19 CRISIS
Summary:
The article presents an analysis of the role of macroeconomic stabilization policy during the economic crisis caused by the COVID-19 pandemic. The analysis covers both monetary and fiscal policy using data on macroeconomic activity, inflation, the severity of restrictive measures, the level of uncertainty, the degree of financial stress on the financial system, etc. It tests two hypotheses formulated as follows: Hypothesis one is that considering the specific characteristics of the COVID-19 exogenous shock, there was a need for a quick and decisive response by means of a macroeconomic stabilization policy. The second hypothesis asserts that expansionary macroeconomic policies played a key role for the recovery of the economies from the COVID-19 recession and their subsequent growth. Both hypotheses are confirmed.
