economy

Although Bulgaria has officially been in a budgetary consolidation phase during the entire 2013-2015 period, public expenditure went out of control on several occasions. Yet again the newly presented medium-term budget framework provides for decreasing deficits, while current expenditures (and thus deficits) are being hiked.

Last month one of the greatest and most extraordinary economists of our time – Douglass North (1920–2015) – departed. He left enormous inheritance of insights that will be considered and re-considered for a long time, and its entire meaning is yet to be discovered and realized.

At the beginning of his speech, CEPOS President attacked the popular myth of Denmark being rich thanks to the welfare state. As he demonstrated on number of charts, Denmark was first rich, and only then could afford the welfare state.

Cash payment restrictions would increase individual and corporate expenses and would cause payment inconveniences. How would one be expected to make larger payments at weekends when interbank transfers are not made? A forced „banking“ of cash reduces competition among payments methods.

There are those who view markets as functional (albeit imperfect) tools for economic decisions and those who think markets always fail at this task. Add to that the intricacies of the energy sector, and the discussion about markets in the energy sector becomes an argument between economists and engineers written down by lawyers.

It is settled that provisional application of Deep and Comprehensive Free Trade Area (DCFTA) between Ukraine and the EU will start since January 1, 2016. In a response, Russia is expected to increase trade barriers vis-à-vis Ukrainian goods.

How to tax small businesses? In recent months, this question has become the centre of heated discussions in Ukraine. The main topic of the discussions is the future of the Simplified System of Taxation, Accounting and Reporting (or Simplified Tax System, STS), which may be reformed as part of the government\'s tax reform.

Today, when we talk about increasing the export capacity of Ukraine, we can hear about the need to focus on exporting the high-tech products, products with high value added and a high level of processing - it seems very attractive because all of the above are important \"export benchmarks\" which should be strived for.

Monetary policy is one of the most important issues of our future in the EU. The event “Future of Money 3.0” will join unique personalities from the practical field of investing world and theoretical scholars and visionaries in the field of monetary policy at the same time.

About PLN 60 billion in spending and (in the beast case scenario) PLN 10 billion in extra revenue. PLN 40 billion of deficit. It seems that Poland can go broke within the forthcoming year. The question is whether Law and Justice (PiS) intends to sink the country or maybe Beata Szydło’s cabinet is designed to withdraw from the promises and fail so that Jarosław Kaczyński may step in and save the day?