In the article, the author analyses sources of budget deficit's financing in the transformation period in Poland. Firstly, different instruments that can balance expenses of state's budget over its income are presented. Then an analysis of the structure of deficit's financing and its consequences for the economy is made. The author pays attention to efficiency of the fiscal expansion in the short and long term and describes the direct and indirect push out effect. In result performed analysis it is claimed that the choice of sources of deficit's financing has the fundamental significance for the economic policy.
Financed by the National Centre for Research and Development under grant No. SP/I/1/77065/10 by the strategic scientific research and experimental development program:
SYNAT - “Interdisciplinary System for Interactive Scientific and Scientific-Technical Information”.