Budget and budgetary process in Romania
The unitary system of budgets was an important moment in the evolution of public finances, creating the framework for more effective management and control over allocated funds, public finances becoming those interactive tools used to match the requirements of economic and social environment, also being a catalyst for development. Romanian economy hasn’t matured yet, we are to achieve satisfactory participation in Gross Domestic Product (GDP) which, concerning the budget, should be translated into a higher need for contribution, or should be seen, as well, as a factor of progress and a step towards European integration. We appreciate the important role of the International Monetary Fund (IMF) Agreement that requires specific behavior in implementing the budget and monitoring the Executive to fulfill the commitments. Also, the EU proposal to consider the national budgets of the governments of other countries in order to monitor the budget deficits would be for this stage also necessary and beneficial.We are now experiencing the reconsidering of the budget process and budget system at European level with the required EU enlargement, which aims to rethinking the perception role that public finances must play inside contemporary society.
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