IMPLICATIONS OF THE EVOLUTION OF BUDGET REVENUES AND EXPENDITURES ON ECONOMIC GROWTH

Dobrota Gabriela, Ecobici Mihaela Loredana and Busan Gabriela
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Dobrota Gabriela: CONSTANTIN BRANCUSI UNIVERSITY OF TARGU-JIU
Ecobici Mihaela Loredana: CONSTANTIN BRANCUSI UNIVERSITY OF TARGU-JIU
Busan Gabriela: CONSTANTIN BRANCUSI UNIVERSITY OF TARGU-JIU

Annals - Economy Series, 2023, vol. 6, 211-218

Abstract: These challenging economic times put most countries in a position to stimulate and strengthen economic growth through fiscal policy measures. We all know that fiscal policy aims to raise as much revenue as possible for the state budget in order to stimulate economic growth. As a result, Romania adopts fiscal policy measures such as: stimulating investments, stimulating consumption, controlling inflation, reducing the budget deficit, etc. Economists (Musgrave Richard & Musgrave Paggy, 1984) identified three functions of fiscal policy which are inter conditioned and related to the state economy: allocation, distribution and stabilization.[13] The paper aims to address in a suggestive manner the impact of fiscal policy on economic growth, and the main objective of the article is to highlight the evolution of economic growth in Romania in the last 10 years as a result of the application and implementation of fiscal policy measures in order to maximize the positive impact on economic growth. Fiscal policy is the basis for a state's economic actions, interacting with all other policies, i.e. monetary policy, social policy, development policy, budgetary policy, etc. This interaction must be translated into a set of economic growth measures.

Keywords: fiscal policy; gross domestic product; tax revenue; economic growth; expenditure (search for similar items in EconPapers)
Date: 2023
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