The Impact of the Current Financial Crisis on Romania’ Budget

Mi?ac Mirela ()
Additional contact information
Mi?ac Mirela: National Bank of Romania, Constanta Branch

Ovidius University Annals, Economic Sciences Series, 2011, vol. XI, issue 2, 821-824

Abstract: Global economy was significantly affected by the global financial crisis and especially the budget balance of all countries. Starting with 2008 the global economy has been confronting the deepest economic downturn since the Great Recession in 1930. The crisis had a high level of synchronization, both the developed and the emerging economies being affected, showing a significant increase of the inter-dependence between the world economies. Many countries experienced recession in 2008 and Romania went into recession in the third quarter of 2008. In this article we present the impact of the present crisis on the Romania’ budget and fiscal sector between the end of 2007 and the end of 2010 and the forecasts for 2011 and 2012.

Keywords: financial crisis; budget; deficit; fiscal policy (search for similar items in EconPapers)
JEL-codes: G01 G20 (search for similar items in EconPapers)
Date: 2011
References: Add references at CitEc
Citations:

Downloads: (external link)
http://stec.univ-ovidius.ro/html/anale/RO/cuprins%20rezumate/volum2011p2.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ovi:oviste:v:xi:y:2011:i:9:p:821-824

Access Statistics for this article

Ovidius University Annals, Economic Sciences Series is currently edited by Spatariu Cerasela

More articles in Ovidius University Annals, Economic Sciences Series from Ovidius University of Constantza, Faculty of Economic Sciences Contact information at EDIRC.
Bibliographic data for series maintained by Gheorghiu Gabriela ().