Romania's public debts and their consequences upon the economy
AbstractIn June 2009, Romania’s public debts rose by 12.6% more than late last year, that is up to 123.61 billion Lei (29.4 billion Euros), meaning 23.27% of the gross domestic product originally estimated for this year. Foreign loans are not a new phenomenon. Yet, in the current economic context, it is the consequences which might occur that bother most of us as a result of the (significant) increase of public debts. Concluding a loan agreement with the International Monetary Fund is « necessary evil » because it has both advantages and disadvantages. This paper aims at analyzing aspects regarding the benefits, direct and indirect costs, and social effects of such a loan.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 20608.
Date of creation: 09 Feb 2010
Date of revision:
public debts; elbows; benefits; economy;
Find related papers by JEL classification:
- F34 - International Economics - - International Finance - - - International Lending and Debt Problems
- G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
- H63 - Public Economics - - National Budget, Deficit, and Debt - - - Debt; Debt Management; Sovereign Debt
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-02-20 (All new papers)
- NEP-MAC-2010-02-20 (Macroeconomics)
- NEP-PBE-2010-02-20 (Public Economics)
- NEP-TRA-2010-02-20 (Transition Economics)
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