Michal Koziel

Limitation of Public Debt in Visegrad Group Countries

Jurisprudence 3/2014 Section: Articles Page: 26-33

Keywords: public debt, public finances, constitutional rules, Visegrad Group countries, fiscal compact

Abstract: Limitation of public debt through constitutional and legal rules is one of the ways how to deal with adverse development of public finances condition. The article shows how particular states from the Visegrad Group countries, which are very close to each other in number of aspects, have managed the necessity of public debt limitations through legal regulations. Particular legal regulations were analysed, through which are above mentioned rules implemented in this article. By comparison conclusions and recommendations are deducted for the Czech Republic, which is the last one from the Visegrad group in implementing such rules. Furthermore, the article deals with rules for restrictions of public debt on the European Union level, without which a performed analysis would be non-complex. The aim of this article is to identify differences in legislation of public debt limitation in examined countries and evaluation of their contribution.