But, by this measure the. Iulian Vacarel and the co-authors, „ Finante publice ”, The 6-th Edition, Publishing house Didactica si Pedagogica,. Bucharest, 64/ on public debt, approved by Government Decision no. .. Văcărel Iulian, (coordonator), Finanţe Publice, Editura Didactică şi Pedagogică, București. Finantele publice sunt necesare, în mod subiectiv şi obiectiv [8] Văcărel Iulian , Finanţe Publice, Editura Didactică şi Pedagogică ,;. [9]Văcărel Iulian.

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Sign in to annotate. Population of Romania mil. Furthermore, the GDP growth, the increase of exports volume and the diminishing of imports shall result both in the increase of the international foreign currency reserve of the country and in the enhancement of the capacity to reimburse external funds vxcarel on the capital markets and from international financial and banking and non-banking institutions IMF, EIBthe World Bankthe Bank of Japan as well as the diminishing of the economy need to borrow funds.

Thus, the analysis of public debt sustainability is a complex exercise, with multiple implications and which needs to consider the following [23]: Specific risk factor s in the field of public debt refer to the conditions in which a certain loan is contracted or to the decision that the state guarantees a certain loan. The analysis of public debt sustainability is meant to offer answers and solutions relating to the capacity of a government to maintain the same direction of expenditures and revenues or, in case they have to make an adjustment, finantee turn government public debt constant as a proportion of the GDP.

Thus, the public debt increase rhythm, at the level of the EU 28, exceeded the econom ic growth rhythm.

Issue 2 First Online: The evolution of public debt percent of the GDP indicator for the period — [26] is shown in the following chart, as follows: The article presents an analysis of the way public debt operates in Romania, in the context of states 2070 trends, of complex and topical financial environments. In modern times, these issues are divided into four large categories: In this context, with the Romanian population permanently decreasing, while the volume of the country’s public debt increased on a continual, there follows that the population indebtedness had an alert rhythm, reaching at the finate of the value of 14, In the instance of an operational market economy, the state uses this financing source to promote new investments, meant for modernisation, as well as for innovation of existing assets, a context in which the public debt notion emerges.


The evolution of indebtedness of EU member states, in the period — Public debt is made of the central administration’ liabilities and includes the following categories: Taxes on physical and juridical persons constitute a permanent source of income for the authorities, income that is used to cover public expenses.

Structural factor s may be, in certain instances, risk generators when the public debt management system component parts are not sufficiently regulated.

Public and Fiscality: Facts and Unknowns : International conference KNOWLEDGE-BASED ORGANIZATION

From this perspective, the openness of Romanian economy shall be influenced in its evolution only by the exports volume, which, in turn, shall depend on the variations of the demand and offer pulbice international markets and on the gross domestic product dynamics.

In this respect, we consider that the moment Romania fulfils the economic growth conditions, it will benefit from acquiring the statute of a member state of the European Monetary Unionwhich will result in an enhancement of the country’s economic opening degree and which will influence the gross domestic product dynamics.

Considering the above-mentioned analyses, it can be concluded that the public deficit indicator related to the gross domestic product of our countryhaving a level of 1.

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Finanţe publice by Elena Popa on Prezi

The following chart is an illustration of the public debt level evolution, of the Romanian GDP, in the period Moreover, it can be established if there is a possibility to replace eventual losses of resources from the targeted taxpayers with tax charges that affect other financial actors. Evolution of the ratio between the deficit and the GDP in EU member states, in the period — At European and world level, financial stability is upset by the alarming increase of states ‘ debts.


Thus, as compared tothe year of the previous world financial crisis, at the end ofdebts at global level increased by 57, billion dollars, reaching a level close tobillion dollars. The state loan is a defining element of public debt, as provided in the specialised literature and in the legal texts. As compared topublic deficit in relation publicd the GDP decreased in in 10 member states, the Netherlands and the United Kingdom had the same deficits in as inEstonia and Iulkan switched from a deficit in to an excedent inGermany recorded a little higher excedent in than inwhile the excedent of Luxembourg had slightly decreased from 3 until The evolution of public debt percent 20077 the GDP finnte for the period —.

Another series of general risk factors is that of the high ly complex issues, which may emerge in the unfold of current processes. It is important to mention that engaging public debt involves a series of risks, generated both by general and by specific factors [13].

Furthermore, the special conjunctures on international financial markets may negatively impact on state loans contracting conditions. E60, E61, H60, H Among general factors acting in the financial domain, the special regulations providing different conditions for certain loans are extremely important.

Public and Fiscality: Facts and Unknowns

The evolution of public debt percent of the GDP indicator for the period —Source: Economic openness is one of the actual convergence criteria, while actual convergence is obtained by sustained macro-economic vacrael. Laffer, The Laffer Curve: T he other 12 EU member states had higher deficits in as compared to Journal of Economic Development, Environment and People. However, changes brought in the current fiscal legislation have brought a series of decreases theoretically substantial of the fiscal obligations owed by the tax payers.

As the need for public financial resources is growing permanently, a decrease in the tax levels can fniante confusion or even public controversy.