PUBLIC DEBT CRISIS AND THE "BLACK HOLES" FROM THE NATIONAL BUDGET OF ROMANIA - A LINEAR ANALYSIS
Journal Title: European Journal of Business and Social Sciences - Year 2012, Vol 1, Issue 3
Abstract
In the background of the global financial downturn the problem of public debt has accentuated in many states, the worst situation at EU level being recorded in Greece. The situation in Greece seriously affects all EU states, especially those in the euro area. Given these issues and the measures imposed by the international forums and the European ones, Romania must adopt measures to limit public spending those considered true “black holes†that drain public money. This article analyzes, using a linear regression model, which of the categories of public spending leads to deepening public debt of Romania. The cost of external borrowing is too high, therefore should allocate more money to sectors that increase investment and to economic recovery of our country. Unfortunately, this phenomenon, found in the literature and as the competition between states through public expenditure has direct repercussions in the social area (reducing public sector wages, is just one example of anti-social measures adopted by the authorities of our country). It is therefore necessary to determine which black holes Romanian budget system to limit the growth of borrowing and boost the national economy.
Authors and Affiliations
Trandafir Adina| Department of Management Financial Accounting, Spiru Haret University, Constanta, Romania
Keywords
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