Public debt, its content, evolution and limits

Vollständiger Abstract

Worum geht es in dieser Arbeit?

The article provides a description of the national debt, the crises it generates, and the profound impact it has on the economy and the extent to which it can spread. Its purpose is to study the essence of public debt, summarize the fundamental causes of their occurrence and prevention, and study the evolution that depends on income, budget expenditures, and economic efficiency, including labor productivity. The object of the study is crisis processes in the financial system of the state, phenomena leading to budget deficits, and the subject is financial and economic relations between their participants regarding education, servicing and repayment of public debt. The methods used are scientific abstraction, analysis and synthesis, historical and logical, causal, dialectical and comparative methods. Among the scientific results is the clarification of the essence of the national debt, the forms, causes, limits of its manifestation and its differences from government borrowing, as well as the justification of the predominance of the consumer over the productive economy. The scientific and practical significance of the article lies in the possibility of applying its provisions during the development, approval and implementation of the consolidated budget of the country, as well as higher educational institutions that study budget issues, the formation of its revenues, expenditures and public debt.