Structural and dynamic analysis of budget deficit, public debt and expenses for its servicing, debt sustainability assessment

Abstract

Given the current budget deficit and the growth of public debt in many countries, it is impossible to ensure the effective management of public finances without analyzing the values of macroeconomic indicators of public debt and assessing the debt sustainability of states. The article presents a structural and dynamic analysis of the budget deficit and an assessment of the public debt of Russia, Germany, Greece, Italy, France and Latvia. Attention is paid to generalization of data and development on this basis of the author’s methodology for assessing the debt sustainability of states, providing a unified approach and obtaining the most comparable result.