RELEVANT ASPECTS REGARDING THE EVOLUTION OF ROMANIA'S EXTERNAL DEBT IN THE PERIOD 2010-2020
RELEVANT ASPECTS REGARDING THE EVOLUTION OF ROMANIA'S EXTERNAL DEBT IN THE PERIOD 2010-2020
Author(s): Anișoara BăbălăuSubject(s): National Economy, Business Economy / Management, Economic history, Present Times (2010 - today), Financial Markets, Public Finances
Published by: Editura Arhipelag XXI
Keywords: public debt; budget deficit; social investments; public finances; external financing;
Summary/Abstract: The emergence of public debt was determined by several causes, such as changing the political regime, financing public works, supporting social investments, financing budget deficits, balance of payments crises, etc. Thus, the current problems caused by the management and administration of public debt in Romania have their origin in the change of political regime after the events of 1989. In the early 1990s, Romania no longer had to pay external debts, due to the considerable sacrifices borne by the people (especially between 1980-1989). As is well known, at the beginning of the transition years, the Romanian state was forced to apply for external loans to support the balance of payments, whose size has increased from year to year. We can see a sharp increase in external debt over the last decade, the only period that tried to keep a minimum of balance was between 2014-2016.
Journal: Journal of Romanian Literary Studies
- Issue Year: 2021
- Issue No: 24
- Page Range: 178-184
- Page Count: 7
- Language: Romanian