Fiscal Policy Developments

The chapter examines the impact of the war on the fiscal policies of the Central and Eastern European countries, its impact on indebtedness, public deficits, and on the financing conditions of the state. It gives a detailed overview of changes in risk perceptions over the medium and long term. Of particular importance is the effect of the global increase in inflation on fiscal developments, the adjustment measures taken by the countries under review and the analysis of the expenditure structure over the period. The analysis also identifies long-term fiscal risks and possible policy actions to further improve the resilience and adaptability of fiscal policy in the event of drastic external shocks.