THE PRIORITY DIRECTIONS OF NATIONAL ECONOMY DEVELOPMENT
EFFECT OF THE NATIONAL DEBT ON ECONOMIC DEVELOPMENT
Pero Petrović, Milenko Dželetović
Abstract: External debt represents a burden for any economy. Longfinancial crisishas made thechange andattitude towards the national debt in international finance. It is believed that the debtautonomously from the state,becausethe key decisions indebited countries do not make their governmentthanclubs of creditors. Many experts believe that the renegotiation or write-off of part of the debt, indebted countries was the fairest solution in relation to creditors, the richest countries. These negotiations, as a rule, they last a very long timeandthecharacter ofthedramatic aharrowing. Mostlieformulaboils down to "no reform, no money." The question iswhether theincrease in debt of wrong economic policy of austerity, the global crisis or not implementingreforms leading to fiscal balance and social justice.
Keywords: National debt, international finance, indebtedness.
Published: p. 77-85
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