THE IMPACT OF INVESTMENTS ON ECONOMIC GROWTH IN ROMANIA

Margareta Fagadar (ghisa)
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Margareta Fagadar (ghisa): DECEMBRIE 1 UNIVERSITY OF ALBA IULIA, ROMANIA

Annals - Economy Series, 2021, vol. 2, 133-142

Abstract: A constant concern for decision-makers in all countries of the world always remains to provide the framework for sustainable growth. Economic growth cannot be achieved without investigations, from internal or external sources, regardless of the level of development in a country. With the study, we sought to analyze the evolution of spending on investigations and its influence on economic growth, resulting from managerial decisions. Some series of statistical data are presented in this article to show the collective importance of budget revenues and attracting new sources of funding, such as European funds, in order to increase investigation expenditures, even if, in assessing the effort-effect, effort ratio. being easy to identify, and the effect are harder to quantify. The dynamics of investigations in Romania depend on attracting new sources of foreign financing, such as European non-reimbursable funds from the European Union. The absorption of EU funds is an objective of national interest and a solution to stimulate investment and the economy. Public investment is low-efficiency, with management gaps, especially in project preparation, prioritization and public procurement, and private investigations are affected by persistent legal uncertainty and bureaucracy. Fiscal policy changes, poor strategic planning of investigations and delays are real obstacles to the growth of significant investigations in the medium and long term.

Keywords: Public investment; investment expenditure; economic growth; gross domestic product; efficiency. (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2021:v:2:p:133-142

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