PUBLIC FINANCE IN EURO ZONE - CHALLENGES AND DIRECTION OF CHANGES

Poland is interested in entering the euro zone in the next few years. Replacing a zloty with a euro should constitute a considerable incentive for the development of the Polish economy. However, this has to be preceded by fulfillment of certain economic conditions referred to as the criteria of convergence. One of these is a criterion concerning public finance. Fulfilling this criterion may turn out to be very difficult for Poland. Therefore, the experiences of the euro zone countries of reducing the budget deficit and public debt are of vital importance here.