The golden rule in the Polish Constitution of 1997 and its social and economic influence

Poland introduced the golden rule in its Constitution of 1997. The Polish political and economic transition, compliance with the Copenhagen criteria of 1993 and the accession of Poland to the European Union are the previous history that created the objective conditions for the implementation of the golden rule in the constitution. Chapter X called Public Finance provides effective control of the development and implementation of balanced state budgets. Budgetary arrangements are guaranteed by the Parliament, the Monetary Policy Council, the Court of Auditors and other institutional actors. Other fundamental key is to establish safeguards against lock contingencies legislation, resolutions and constitutional reforms, and increased the deficit and sovereign debt. The golden rule along with other factors, have made Poland is immune to the financial crisis. The country enjoys economic growth, is attractive to investors, corrects imbalances and continuing the process of economic, social and territorial cohesion.Published online: 01 December 2014