THE INFLUENCE OF THE ECONOMIC CRISIS ON THE STATE OF PUBLIC FINANCES IN THE COUNTRIES OF THE VISEGRAD GROUP

The paper analyzes the relation between the economic crisis, budget deficit, public debt and the fiscal policy. The current economic crisis occurred in the conditions of a high level of public debt in the majority of the developed countries, which on one hand makes it impossible to use expansive fiscal policy and, on the other hand threatens the solvency of some of the countries. In the first part of the paper a theoretical characteristics of the influence of the economic crisis on the condition of public finances is presented. In the second part the statistical analysis of the economic growth, budget deficit and public debt of the countries of the Visegrad Group was conducted. Statistical data confirm the thesis that the economic crisis caused the worsening of the condition of public finances in the countries that belong to the EU.