Fiscal Policies to Diminish the Deficit in Romania

Corina Georgiana Cioroiu (), Alina Elena Ionascu () and Andreea Larisa Olteanu (Burca) ()
Additional contact information
Corina Georgiana Cioroiu: ˝Ovidius˝ University of Constanta, Faculty of Economic Sciences, Romania
Alina Elena Ionascu: ˝Ovidius˝ University of Constanta, Faculty of Economic Sciences, Romania
Andreea Larisa Olteanu (Burca): The Bucharest University of Economic Studies, Romania

Ovidius University Annals, Economic Sciences Series, 2023, vol. XXIII, issue 2, 662-669

Abstract: On 27.10.2023, Law no. 296/2023 on some fiscal-budgetary measures to ensure long-term sustainability was published in the Official Gazette no. 977. This law introduced substantial amendments to the Tax Code and introduced many new elements from a tax perspective, with an impact on both individuals and legal entities, including the liberal professions, not only in terms of an increase in the level of taxes and contributions, but also in terms of an increase in their administrative burden. Following the negative reaction expressed in particular by the business sector, taking into account the recommendations issued at European level for Romania, on 15.12.2023, Government Emergency Ordinance No. 115/2023 was published in the Official Gazette No. 1139 on some fiscal-budgetary measures in the field of public expenditure, for fiscal consolidation and combating tax evasion, for amending and supplementing some normative acts, as well as for extending some deadlines. This paper aims to analyse the possible impact of the new fiscal-budgetary measures at macroeconomic level, determining the positive and negative sides with regard to the fulfilment of their intended purpose.

Keywords: budget deficit; economic crisis; fiscal-budgetary measures; macroeconomic impact; fiscal news (search for similar items in EconPapers)
JEL-codes: K29 (search for similar items in EconPapers)
Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://stec.univ-ovidius.ro/html/anale/ENG/wp-content/uploads/2024/02/7-3.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:xxiii:y:2023:i:2:p:662-669

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 ().