Sustainability of Public Finances in Times of Crisis

Constanța Adriana Gorie and Bogdan Laurențiu Nicola
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Constanța Adriana Gorie: University of Craiova
Bogdan Laurențiu Nicola: University of Craiova

Finante - provocarile viitorului (Finance - Challenges of the Future), 2023, vol. 1, issue 25, 81-90

Abstract: In the face of crises like the COVID-19 pandemic, this article delves into the pressing need for governments to sustainably manage public finances amid economic and social turbulence. It underscores the pivotal role of fiscal sustainability during such periods of upheaval, emphasizing its significance in stabilizing budgets and fostering enduring economic recovery. By scrutinizing various fiscal strategies and policies, the article seeks to elucidate pathways towards maintaining budgetary stability while simultaneously facilitating sustainable growth. It highlights the importance of prudent financial management in navigating through tumultuous times, where the resilience and adaptability of public finances become paramount. Through an examination of effective fiscal measures, the article aims to provide insights into how governments can address immediate challenges while laying the groundwork for long-term fiscal sustainability. Ultimately, it advocates for a comprehensive approach to financial governance that prioritizes resilience and sustainability in times of crisis, thereby fortifying economies against future shocks.

Keywords: Economic Crisis; Budget deficit; Public Debt; Austerity Measures; Economic Recovery Policies (search for similar items in EconPapers)
JEL-codes: C33 C58 L11 M11 (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:aio:fpvfcf:v:1:y:2023:i:25:p:81-90

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