Hristiyan Atanasov,
Associate Professor, PhD
Political Economy Department
University of National and World Economy
8th of December Blvd.
1700 Sofia BULGARIA
E-mail: hatanasov@unwe.bg
SCOPUS Researcher ID: 57214897461
Web of Science Researcher ID: AAW-6367-2020
https://orcid.org/0000-0003-3701-0387
Съдържанието е достъпно само за абонирани потребители.
Pages: 15 – 70 | https://doi.org/10.53656/978-619-7667-81-3-v2.01
Abstract. Public finance is a crucial aspect of understanding the broader economic framework within which the population of Ottoman Bulgaria developed its economic activities, whether in agriculture, industry, or other sectors. This study explores the evolution of the Ottoman monetary system from the 18th to the 20th century. At the beginning of this period, the Ottoman authorities frequently devalued coins to meet their budgetary needs. However, after the adoption of the gold and silver standard in 1844, with fixed coin purity and metal ratios, such instruments became impractical. Instead, the Ottoman government turned to alternative methods of financing, including printing paper money, issuing bonds, and taking on debt in both domestic and international markets. The establishment of the Ottoman Bank in Istanbul played a significant role during this period. Operating as a quasi-state bank, it provided loans to the government, effectively supporting the fiscal system and influencing the empire‘s financial stability.
Considerable attention is given to the Ottoman tax system, particularly its reforms during the Tanzimat period. It was during this time that central budgets, in a more modern sense of the term, began to be formulated. Ottoman budgetary policy is examined on two levels – central and provincial – highlighting and analyzing the differing trends in revenues and expenditures. This analysis is supported by statistics derived from both published and unpublished sources. A significant portion of information comes from Ottoman provincial statistical yearbooks (the salnameler) of the 1860s and 1870s, as well as the tevzi defter, records of revenue and expenditure from the city of Vidin in the 18th century. An effort is made to address, albeit not definitively, the extent to which tax revenues were retained or returned and spent locally. Such an approach provides a clearer understanding and evaluation of Ottoman fiscal policy, shedding light on its economic and social impacts at both the local and empire-wide levels.
Keywords: Ottoman Empire; budgets; public finance; central and local revenues and expenditures
