Blog
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
2017 State Budget: Between Forecasts and Adjustments
It is essential that Romania’s budget for 2017 is a solid, credible one, which is why the budget construction must be realistic, validated by the dynamics of economic evolutions that we witness in reality. We must recognize, however, that the economy and the budget have been affected by many fiscal-budgetary measures in a short period of time,
Budget Execution: Same Old, Same Old
Exactly in these political days it was discovered that the budget execution exploded in December, as if to convince us that “fattening in the last minute” also applies to the consolidated general budget. We insisted on this budget pattern in November 2016, when the Government of Romania launched the OECD Report “Public Governance Scan of Romania”. The end of 2016 budget execution confirmed once again that December is the hot month of public spending, the month when the deficit explodes.
