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Public Debts Trends in the Current Economic Context, from Both National and International Perspective

Author

Listed:
  • Elena-Doina DASCALU

    (Spiru Haret University, Faculty of Economics)

  • Dragos Mihai UNGUREANU

    (Spiru Haret University, Faculty of Economics)

Abstract

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. 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 needs to be a major challenge at the level of public policies. Considering this situation, the adequate policies to tackle public finances sustainability need to have, as a launching base, the overall strategy of the European Union, focused on the three component parts, namely abatement of public debt, increasing productivity and employment and last but not least, reforming the pension and healthcare systems. To ensure reasonably sustainable public debt levels, EU member states need to attain medium term strategic budgetary objectives, that would ensure a downward trend of public debt, a condition which can be fulfilled by compliance with budget policies rules, which ground development in the macroeconomic framework.

Suggested Citation

  • Elena-Doina DASCALU & Dragos Mihai UNGUREANU, 2015. "Public Debts Trends in the Current Economic Context, from Both National and International Perspective," Journal of Economic Development, Environment and People, Alliance of Central-Eastern European Universities, vol. 4(4), pages 31-46, December.
    • Handle: RePEc:sph:rjedep:v:4:y:2015:i:3:p:31-46
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    File URL: http://jedep.spiruharet.ro/RePEc/sph/rjedep/JEDEP15_3Dascalu_p31-46.pdf
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    References listed on IDEAS

    as
    1. Elena-Doina DASCALU & DragoÈ™ Mihai UNGUREANU, 2015. "Considerations Regarding the Analyses of Public Debt in the Current Economic Context, both National and International Level," International Conference on Economic Sciences and Business Administration, Spiru Haret University, vol. 2(1), pages 47-55, December.
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      More about this item

      Keywords

      public debt; state loan; public debt sustainability; vulnerability; budget deficit; gross domestic product (GDP); indebtedness; the European Accounts System; Maastricht Treaty etc.;
      All these keywords.

      JEL classification:

      • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
      • E61 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Policy Objectives; Policy Designs and Consistency; Policy Coordination
      • H60 - Public Economics - - National Budget, Deficit, and Debt - - - General
      • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems

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