The purpose of this article is to point out the importance of the size of public debt and deficit in the context of
Keynesian and non-Keynesian effects of fiscal policy limit. To achieve this objective primarily were used methods of analysis
of the available literature and presentation of statistical data. Considerations include, among others, the presentation of public
debt and deficit in the context of economic growth. Expansionary fiscal policy often caused by economic fluctuations
contributes to the deepening of public finance imbalance with frequent decline in GDP growth. The restrictive policy
influences on improving the situation of the public finance sector in the long-term with at least moderate economic growth.