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首页> 外文期刊>Economic bulletin >East Germany's State and Local Government Budgets: Consolidation Efforts Fail to Prevent High Deficits
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East Germany's State and Local Government Budgets: Consolidation Efforts Fail to Prevent High Deficits

机译：东德州政府和地方政府预算：合并努力未能防止高赤字

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摘要

Fiscal policy has played a major part in the adjustment process taking place in east Germany. Not only have huge amounts of money been invested in the expansion and modernisation of the public infrastructure, but substantial funds have also been needed to alleviate the socio-political consequences of the decline in production and employment. All of this has constituted an enormous burden on the central, state and local government budgets, and on the social insurance institutions, for the volume of funds required has in no way corresponded to the tax revenue received in east Germany. A large portion of this burden has been financed via loans, leading to a sharp increase in the public debt. The massive borrowing was based on the hope that the east German economy would recover rapidly and that the region's states and municipalities would soon have receipts of the same dimension at their disposal as their west German counterparts. This hope has proved vain, however, and the east German state and local government budgets are now extremely short of funds - a situation that is being exacerbated by income losses caused by the weak business cycle and by reforms. One consequence is a massive decline in public investment spending.
机译：财政政策在德国东部的调整过程中起了重要作用。不仅在公共基础设施的扩展和现代化方面投入了大量资金，而且还需要大量资金来减轻生产和就业下降的社会政治后果。所有这些对中央，州和地方政府的预算以及社会保险机构构成了巨大的负担，因为所需的资金数量绝不等于德国东部的税收收入。这种负担的很大一部分是通过贷款筹集的，导致公共债务急剧增加。大量借贷是基于这样的希望，即希望东德经济能够迅速复苏，并且该地区的州和市政当局很快将拥有与西德同行相同规模的收入。然而，这种希望已被证明是徒劳的，而且德国东部的州和地方政府的预算现在资金严重短缺-由于疲弱的商业周期和改革造成的收入损失使这种情况更加恶化。结果之一是公共投资支出的大幅下降。

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