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Macroeconomic Perspectives for Romania in the Period 2015-2018

International Journal of Economic Practices and Theories

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Field Value
 
Title Macroeconomic Perspectives for Romania in the Period 2015-2018
 
Creator Stanef-Puica, Mihaela Roberta
 
Subject —
Romania, crisis recovery, U.E., macroeconomic outlook, 2015-18 perspectives
E01, E03, E20, E30, E60
 
Description The prudent macroeconomic management in the last few years has enabled Romania to recover in some measure from the global financial crisis that has struck the whole world at the end of 2007. The economic activity picked up beginning with 2013 and reached around 2.8% in 2014, driven by the gradual improvement in the domestic demand, led by the private consumption, and by exports, mainly to the EU.Because of the tight fiscal policy the budget deficit was reduced to close to 2.5 % of GDP and Romania exited from the EU’s excessive deficit procedures in June 2013. So, to boost growth and provide fiscal space for co-financing of EU funded projects, the capital budget has been protected and total capital spending is expected to rise from 5.8 % of GDP in 2013 to 6.1% in 2015.In 2015, Romania continues to target a structural deficit of 1% of GDP, which should reduce government debt according to national legislation (excluding temporary financing) from about 40% of GDP in 2013 to 36% by 2018. Prudent monetary and fiscal policies are expected to anchor inflation expectations, maintain fiscal buffers, and reduce public debt.
 
Publisher International Journal of Economic Practices and Theories
 
Contributor —
 
Date 2015-05-15
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier http://www.ijept.org/index.php/ijept%20/article/view/Macroeconomic_Perspectives_for_Romania_in_the_Period_2015-2018
 
Source International Journal of Economic Practices and Theories; Vol 5, No 3 (2015): Special issue on Competitiveness and Economic & Social Cohesion; 291-295
2247 – 7225
 
Language eng
 
Relation http://www.ijept.org/index.php/ijept%20/article/view/Macroeconomic_Perspectives_for_Romania_in_the_Period_2015-2018/pdf_118