Risks to the public finances of CIS member states in the light of the current global instability.

Abstract

Worsening debt crisis in the second half of 2011 had a negative impact on the economic situation in developed countries. In developing countries, growth has also declined due to the worsening external environment and weakening domestic demand. The greatest negative secondary effects are expected in Central and Eastern Europe, because of the close trade and financial ties with the countries of the region the euro zone. Economic dynamics of the CIS, to accelerate the growth of GDP in 2011-2012. Several stand out from the global trend. However, the changes that have taken place over the past three years, has strengthened the stability of national economies to the possible adverse events. Currently, there are several risk factors for global deep recession globally. First, perhaps the further deepening of the eurozone debt crisis. Secondly, it is possible the emergence of a crisis of confidence due to the lack of development and implementation of plans for medium-term fiscal consolidation at the federal level, the United States. Third, is not excluded major debt crisis at the level of U.S. states and municipalities.