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Tag Archives: Responsabilitate economică

Economic Challenges in the Context of Convergence


The economic crisis showed us that pro-cyclical policies, which Romania was also seduced by, make the recovery more painful. This is why it is important to discuss openly if and why is it worth creating big deficits exactly when the economic situation is good, instead of preserving fiscal space for “hard times”, when the economic expansion will be exhausted.

Decrease taxes, increase spending!, doesn’t feel as sound economic policy


In the past years, almost everything related to economics and economic debate was built on tax initiatives. But economic performance does not simply emerge, by itself, only through changes in taxes. It needs structural accumulation, concrete rules and credibility for the well-functioning of markets, competitively and predictability for the business environment,

Responsible Economic Policies and Sustainable Growth


The Romanian economy is currently facing a context circumscribed to 3 post-stages: post-transition, post-EU accession, and post-crisis. These open a “new beginning” from an economic and institutional point of view. In this respect, a new development model must give up at least several illusions: first, the illusion that prosperity can be built on economic deficits and public debt, or on

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,

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

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