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Abstract

The paper is made regarding fiscal developments in Macedonia , with emphasis on budget revenues and expenditures , budget balance and public debt. Furthermore , the paper performs an empirical analysis of the fiscal position of the country based on the concept of cyclically adjusted primary balance . By applying GMM- evaluator get results suggest that the underlying fiscal policy in Macedonia Prof. Perry has analyzed cyclical nature and move in the same direction with automatic stabilizers . Significant labor takes place in the examination of the impact of fiscal instruments on macroeconomic developments in Macedonia . Assessment of effects is napravena applying (S) VAR- method . The estimated fiscal multipliers suggest that the increase in primary expenditures have a positive initial impact on economic activity , while the medium -term effects become negative . On the other hand, expansionary fiscal policy driven by tax revenues have a positive impact on economic activity over the medium term, while the short -term effects will.

Keywords: fiscal policy, surplus, deficit, budget, revenue, expense.

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