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2015 | PL 3(93) | 49-68

Article title

Krajowe regulacje ostrożnościowe w zakresie finansów publicznych – analiza i wnioski


Title variants

National Prudential Regulations of Public Finance – Analysis and Conclusions

Languages of publication



The main aim of this article is an overview of the existing legal framework relating to the relevant fiscal categories which determine the rules of fiscal policy (fiscal rules). Such arrangements are called prudential regulations of public finance. Their aim is to strengthen the sustainability of public finances. In addition to strengthening the stability, such regulations limit the discretion of public authorities in the conduct of fiscal policy. The article indicates the most important fiscal rules established in the legal framework. The analysis includes legal regulations concerning: 1) public debt (the fiscal rule enshrined in the Constitution and related prudential and remedial procedures as indicated in the Public Finance Act); 2) stabilization expenditure rule, and 3) regulations directed to the local government and other than the State Treasury public finance sector units. The essence, scope and their effects are carefully described. The article also discusses the conditions for the effectiveness of prudential regulation and dilemmas which may arise in their design. The reference to the regulations contained in European Union law is also made. The article outlines the development of prudential regulation in the national legal order. Its direction is positively assessed. In particular, it applies to the new expenditure rule. As its advantages are indicated: counter-cyclicality, a wide range of public units bound with its scope, relations with significant fiscal categories, including concepts resulting from EU regulations to preserve budgetary discipline in the Member States (nominal balance, the structural balance, costs pension reform, discretionary expenditures). Its main drawback is strictly quantitative in nature.






Physical description


  • (Ministerstwo Finansów – Ministry of Finance)


Document Type

Publication order reference


YADDA identifier

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