EVOLUTION OF INTERNAL PUBLIC DEBT IN ROMANIA DURING THE LAST DECADE

Abstract

The need to finance the public sector in different stages of economic and financial development of a state generates the need for additional funds to current or primary income which justifies public financial policies based on the accumulation of internal or external public debt at central, regional or local government level, or national currency or foreign currency. Besides the notion of public debt and how it is managed, it is also important to study its structure. The article emphasizes the presentation of theoretical concepts and the exposition of the legislative and institutional framework regarding the internal public debt and its evolution in Romania during the last decade, including the period of the global economic crisis that was declared at the beginning of 2008. The study shows that in the last ten years, domestic public debt has been steadily rising, especially in the period 2008-2012, amid the need for a loan favored by the global economic crisis.

Keywords

• : internal public debt
• budget deficit
• public debt service.