Romania’S Budget Deficit In 2022 - Funding Sources And Perspectives

Romania's economy experienced several shocks in 2022, such as the outbreak of the Russian-Ukrainian conflict, successive price increases for energy goods and some raw materials, but also the continuation of the alteration of global supply chains. All these events had an unwanted influence on prices, which explains the differences between the estimates and the achievements related to the year 2022. On the other hand, the measures intended to support the economy, together with the gradual relaxation of restrictions, in certain periods, had the effect of improving the sentiment of investors and consumers. But, in order to be able to maintain easy and cheaper access to the external financing market, it is crucial for Romania to engage in reforms that will improve the predictability of the fiscal framework, improve the revenue collection capacity and adjust budget expenditures in correlation with the evolution of budget revenue. Improving the governance of public investments, focusing mainly on strategic areas, as well as the greater use of European funds represent elements that can direct our country's economy to a new growth model, while reducing the pressure on budgetary resources.