PANDEMIC IN ROMANIA – FINANCIAL AND TAXATION MEASURES TAKEN DURING THE COVID-19 CRISIS AND THEIR EFFECTS ON THE ROMANIAN PUBLIC ECONOMY

Cristina Elena Cazacu, Teodora Valentina Licä‚ and Cristina Gabriela Cosmulese
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Cristina Elena Cazacu: Transilvania University of Brasov, 500036, Romania
Teodora Valentina Licä‚: Transilvania University of Brasov, 50036, Romania
Cristina Gabriela Cosmulese: Stefan cel Mare University of Suceava, 720229, Romania

European Journal of Accounting, Finance & Business, 2022, vol. 10, issue 3, 41-52

Abstract: The outbreak of the Pandemic caused not only a global health crisis but also a strong economic crisis. This paper aims to present the main financing programs adopted at the European level to counter the effects of the pandemic and the effects of these programs on the main macroeconomic indicators of Romania: twin deficits (budget deficit and current account deficit), public debt, evolution of budget revenues and expenditures, economic growth and labor market evolution. The research was conducted between 2019-2021 and is based on analysis of the data collected on Eurostat, INSSE and BNR. The study concludes that the negative impact of the pandemic crisis was significantly mitigated by the funds provided by the EU, but due to the economic context in which Romania was at the onset of the crisis, characterized by a high budget deficit, the return to economic growth will be a long and difficult process

Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:scm:ejafbu:v:10:y:2022:i:3:p:41-52

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