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  Văcărel Iulian , Finanţe Publice, Editura Didactică şi Pedagogică ,;. Văcărel Iulian.
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A s it can be noted on the overall analysed period, the population of Romania had a downward trend, so that at the end of there were Thus, it is natural to try and identify the potential benefits or consequences of the fiscal relaxation that has occurred. In the context of a functional market economy, the issues faced by certain states involving high public debt levels or potential budgetary pressure risks converge towards the idea that public finances sustainability need s to be a major challenge at the level of public policies.
Journal of Economic Development, Environment and People.
Public debt managers operate nowadays in sophisticated and complex financial environment sand a global capital market can generate numerous benefits for example, easier access to a larger capital portfolio at a lower cost, more effective internal capital markets and the possibility to better adapt risk through new financial instruments. Among general factors acting in the financial domain, the special regulations providing different conditions for certain loans are extremely important.
It is important to mention that engaging public debt involves a series of risks, generated both by general and by specific factors puglice. Population of Romania mil. The increase of gross domestic product may be reached by abating taxation pressure over economyespecially over the productive sector of all economic branchesas well as by increasing the collection degree of taxes and feeswhich can generate financial resources, funds which need to be oriented with priority towards investment making in the production sector of the Romanian economy.
The evolution of public debt percent of the GDP indicator for the period —. In many instances, this kind of resources ordinary ones are insufficient and then, both the state and the local collectivities are made to approach a different type of financial resources, known as extraordinary onesthat is public loans.
The Romanian economy, as a component part of world economy, finanye the same trends, respectively an increase of public debt in a rhythm superior to the economic growth one, so that public finances sustainability needs to be a major challenge at the level of public policies .
Structural factor s may be, in certain instances, risk generators when the public debt management system component parts are not sufficiently regulated. The evolution of public debt percent of the Finnte indicator for the period —  is shown in the following chart, as follows: In order to maintain public debt at an acceptable level, it is necessary that the economy of Romania focuses efforts and financial resources to enhance the gross domestic productby developing both the industrial sector through investment in intelligent technologies, which would generate added value, and through the agricultural sector ecological agriculturebut also by developing constructions and services for population.
The article presents an analysis of the way public debt operates in Romania, in the context of states economies trends, of complex and topical financial environments. The foreign exchange risk is another relevant issue, which needs to be considered when concluding a foreign currency loan, whether this is conducted on the domestic or the external capital market.
In modern times, these issues are divided into four large categories: 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 borrowed 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.
De Gruyter – Sciendo. Afterthe weight of the public debt in the GDP had an upward trend, reaching the maximum T he other 12 EU member states had higher deficits in as compared to Public finances sustainabilityfrom this perspective involves Government being able to manage, in the medium and long run, risks or unforeseen situations, without being forced to operate significant adjustments of the expenditures, revenues or budgetary deficit swith destabilising effects from the economic and social point of view.
Even though from the point of view of public debt and of the deficit weight in the GDP, Romania is under the limits provided in the Maastricht Treaty and among the first countries in EU as to the standard of finaante, a significant gap is found in relation to other EU member states, our country holding the last but one place. The gacarel 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, to vacaerl government public debt constant as a proportion of the GDP.
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 on international markets and on the iuliaj domestic product dynamics. Considering the above-mentioned analyses, it can be concluded that the public deficit indicator related to vacrel gross domestic product of our countryhaving a level of 1.
Văcărel, Iulian [WorldCat Identities]
As the need for fihante financial resources is growing permanently, a decrease in the tax levels can cause confusion or even public controversy. Furthermore, the special conjunctures on international financial markets may negatively impact on state loans contracting conditions. The analysis of this data shows that inas compared topublic debt went up in a rhythm superior to the economic growth one, a situation in which public finances sustainability needs to be a major challenge at the level of public policies.
Taxes on physical and juridical persons constitute a permanent source of income for the authorities, income that is used to cover public expenses. Year Public Debt pjblice. Issue 2 First Online: Furthermore, it can be seen that certain significant increases of this indicator were also recorded inrespectively Public debt is made of the central administration’ liabilities and includes the following categories: Up to now, the public debt notion went through the following defining process : Current economic context of public debt The financial crises at global level during the latest 25 years resulted in the negative impacting of governments’ capacity to reimburse accumulated debt, which triggered bot h budget difficulties and economic disturbances.
Public and Fiscality: Facts and Unknowns
The financial crises at global level during the latest 25 years resulted in the negative impacting of governments’ capacity to reimburse accumulated debt, which triggered bot h budget difficulties and economic disturbances. According to the data listed by EUROSTAT in the period —the average level of public debt within EU 28  had an upward trend, from 11, iuliann euro to 12, million eurorespectively an increase by 7.
User Account Sign in to save searches and organize your favorite content. Inflationist phenomena, known as factors eroding publkce debt, also have a negative influence on budgets, especially in the instance of external public debt, since their effects impact stronger on non-convertible currency than on convertible ones.
Economic openness is one of the actual convergence criteria, while actual convergence is obtained by sustained macro-economic policies. The data in figure 4 show that the highest deficits in relation to the GDP were recorded in by Slovenia and Greece. Abstract PDF References Article Recommendations Abstract Taxes on physical and juridical persons constitute a permanent source of income for the authorities, income that is used to cover public expenses. Another series of general risk factors is that of the high ly complex issues, which may emerge in the unfold of current processes.
The evolution of indebtedness of EU member states, in the period — Nevertheless, public iuliab strategies may become dangerously vulnerable when confronted with unforeseen events, such as private sector balance deterioration, which can result in tax ationfinancial and economic crises. 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. Economic shocks may have, individually or cumulatively, an impact on external public debt of an economy, which leads to the vulnerability of the public debt strategy, which in turn may impact on global economy and, last but not least, may seriously deteriorate a state’ s financial situation.
Moreover, it can be established if there is a possibility to replace eventual losses of vcaarel from the targeted taxpayers with tax charges that affect other financial actors.