The public finances of the frugal four countries in the conditions of European economic reconstruction

Abstract

The paper focuses on the main measures of public finances (government revenue, government expenditure, net lending/net borrowing position) of the countries of the so-called “frugal four” for a period of twenty years (2000 – 2020), in the conditions of European economic reconstruction. The aim of the paper is to present arguments for the reported trends in the dynamics of the above mentioned measures and to justify the conservative policy of public finances management pursued by Austria, the Netherlands, Sweden and Denmark. As a result of the study of budgetary measures, an assessment of the state of public finances of the four countries was performed and the macro factors for this were derived. The state of the latter, as it is known, is dynamic and their future research and control is necessary to preserve the budgetary stability of the “frugal four” and the European Union in the current European economic reality. JEL: H59, H61, H69