– Fiscal rules and adjustment of fiscal policy
An analysis of the content of fiscal rules is carried out. Its interpretation, which reflects both restrictive and corrective functions, is proposed. Application of fiscal rules and mechanisms for adjusting the fiscal policy in the member states of the EU is highlighted. It is concluded that strengthening rigidity of fiscal rules at the supranational level in the EU hampered their flexibility. It is noted that changes to application of fiscal rules are important enough for increasing the effectiveness of fiscal policy in Ukraine. Keywords: public finance; fiscal policy; government borrowing; state debt; fiscal rules; fiscal consolidation; transparency of budget operations. References 17; Figures 3.