Deficyt fiskalny a racjonalność wydatków publicznych
Fiscal Deficit Against Public Spending Rationality
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In the long run the fiscal deficit contributes to a reduction in potential GDP growth rate by at least a few channels. Two of them are related to the structure of public expenditure. Both the growth and maintenance of chronic deficit, lead to a permanent increase in public debt the interest of which - in the first place - crowd out developmentsupporting expenditures, i.e. spending for such purposes as: infrastructure, research and development. Moreover, the deficit leads to a diversion of public funds for goals, which are beneficial rather to the specific groups of society than to society as a whole, which, in turn, does not promote rationality and productivity of public spending. The purpose of this article is to show that both in the short and long-term the fiscal deficit is not conducive to rational public spending and leads to the deterioration in their structure.
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