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Romania’S Budgetary Deficit In 2018 And Its Forecast For 2019. Dimensions And Financing

Author

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  • Cristian MOROZAN

    (”Constantin Brancoveanu” University of Pitesti, Romania)

  • Elena ENACHE

    (”Constantin Brancoveanu” University of Pitesti, Romania)

Abstract

The recent economic crisis has revealed the failure of some cognitive and operational models to relaunch the economic activity. The most representative example is the thesis that price stability is equivalent with financial stability, with the full use of resources. In the current period, we hear more and more of the idea that the budgetary deficit becomes a means of relaunching the economic activity, given the fact that it is not already inflationary. Acting on the demand for public goods and services is possible by using short-term action funds, thus achieving a flexible budgetary policy. Within this, public spending can be resized in relation to the size of these funds. If no changes are made in the regulation of taxes, the tax revenues can be short term adjustment tools. The idea that the budgetary deficit would be a particularly important problem for the economy is partially true, since it must still exist. Through it, the redistribution of income between generations is assured, fiscal relaxation in case of variation of income subject to taxation is assured etc.

Suggested Citation

  • Cristian MOROZAN & Elena ENACHE, 2020. "Romania’S Budgetary Deficit In 2018 And Its Forecast For 2019. Dimensions And Financing," Contemporary Economy Journal, Constantin Brancoveanu University, vol. 5(3), pages 6-15.
    • Handle: RePEc:brc:brccej:v:5:y:2020:i:3:p:6-15
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    More about this item

    Keywords

    deficit; budget; public administration; economic crisis; financing; investments;
    All these keywords.

    JEL classification:

    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus

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