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THE DEVELOPMENT OF AN ENVIRONMENTAL PROTECTION STRATEGY AT NATIONAL LEVEL SHOULD BE BASED ON PRINCIPLES, CONCEPTS AND INSTRUMENTS REFLECTING THE ROLE AND PLACE OF THE ENVIRONMENTAL POLICY IN THE OVERALL STATE POLICY, THE POSSIBILITIES AND PRIORITIES IN THE SHORT AND LONG TERM, THE SPECIFICITY AND THE MAGNITUDE OF THE POLLUTION PROBLEMS AT THE MOMENT OF ITS ESTABLISHMENT. IN ORDER TO OPERATIONALIZE ENVIRONMENTAL POLICY, THE ECONOMIC INSTRUMENTS (TAXES, SUBSIDIES, CONSIGNMENT SYSTEMS, ENVIRONMENTAL LETTERS OF CREDIT, NEGOTIABLE POLLUTION PERMITS) ACT TO INTERNALIZE EXTERNAL ENVIRONMENTAL COSTS (EXTERNALITIES), TO CORRECT THE PRICE LEVELS AND TO CONTRIBUTE TO THE RESPONSIBLE USE OF NATURAL RESOURCES, THE POLLUTION LEVEL AND THE ACTIVE AND EFFICIENT MANAGEMENT OF WASTE. IN THIS RESPECT, CLEAR ENVIRONMENTAL POLICIES WILL BE ADOPTED TO SET UP A SYSTEM OF INCENTIVES AND INSTRUMENTS FOR ENVIRONMENTAL PROTECTION, AND ENVIRONMENTAL SPENDING WILL FOCUS ON THOSE PROJECTS THAT PROVIDE THE HIGHEST COST-BENEFIT RATIO. [ABSTRACT FROM AUTHOR]