Financial crisis do not end overnight, but it takes some time until all effects disappear. Most of the time, the period in which the consequences of financial crisis manifest is characterized by: persistent and deep collapses of stock market, deep cuts in production and employment and explosions...

The fiscal transparency is a key point in the fiscal policy stance, which is why a special attention should be paid to this issue. The fiscal transparency provides to the policymakers the ability to accurately analyse the costs and benefits of any changes in the fiscal policy. In addition, the...