Factori de creştere a sustenabilităţii datoriei publice

Drivers of increasing the public debt sustainability

George Georgescu

MPRA Paper from University Library of Munich, Germany

Abstract: In the case of Romania, a sharp deterioration of the fiscal framework strength has been observed during post-crisis period, the public debt-to-GDP ratio currently reaching around 40%, thus doubling as compared to 2008. The structural analysis of government debt portfolio highlighted the main drivers of excessive public indebtedness and the increase in refinancing (rollover) risk on short term, which is supposed to overlap with the exchange rate and interest rate risks on medium and long term. Several indicators of Romania’s debt sustainability are already on the warning levels edge which requires appropriate policies focusing on economic growth recovery, fiscal consolidation ongoing, increasing capacity of generating budgetary revenues, public debt management improvement.

Keywords: public debt; debt sustainability; sovereign risk; sustainable development; financial stability (search for similar items in EconPapers)
JEL-codes: E62 F34 G01 H63 (search for similar items in EconPapers)
Date: 2014-01
New Economics Papers: this item is included in nep-fdg, nep-mac and nep-tra
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