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A Reflection of Ideas: The Elimination of Taxes on Profit


Several years ago I wrote about the perspective of eliminating the profit tax, as a reflection of ideas and counterfactual exercise in relation to the daunting complexity of existing taxation.

But there is a long way from ideas to policymaking. Current tax proposals, because they can not yet be called policies,

Regional Gaps in a European Context: Is Romania Getting Closer to the Euro?


More and more arguments are being introduced, either congruently or interchangeably, into the list of criteria for the adoption of the common currency. Sometimes, preconceived positions make their way through the multitude of invoked counter-arguments. Nominal convergence criteria have been continuously supplemented, sometimes

Fiscal Space for Salaries


In connection with the long-awaited “law on the unitary pay”, probably the most important issue, besides solving inequities, is the budget space that Romania has so that the increase in the budget pay will be sustainable and will solve some problems, rather than creating more in the future. That’s why, in order not to put the cart before the horse, so to speak,

Commitment Credits: Long-term Budgetary Trap


The budget for 2017 includes some aspects that were less present in the public debate and expert opinions. These are commitment credits. Unlike all other years, the budget for 2017 comes with a spectacular dynamics of commitment credits, which could at the same time become the main problem of the budgetary situation in the coming years.

Paradoxical Records: from the Champion of Growth to the Champion of Deficits


After Romania registered the highest economic growth among EU countries in 2016, this performance did not even start to be forgotten that, again at European level, there are signs of another record, this time the largest counter-performance in terms of budget slippage. It is symptomatic the way in which, through the pro-cyclical

Cosmin Marinescu