USV Annals of Economics and Public Administration (Dec 2019)
BUDGET PROGRAM VERSUS BUDGET EXECUTION IN ROMANIA. AN ANALYSIS OF THE IMPLICATIONS ON THE ECONOMY
Abstract
The relationship between good governance and economic and social outcomes is increasingly recognized. Transparency - openness to political intentions, formulation and implementation of budget program - is a key element of good governance. The budget, as a key government document, is the most important political document of the ruling parties. The budget transparency, its approval, its good execution are, in this context, the premise of good governance. The correct estimation of the macroeconomic indicators is very important because the correct forecast of the economic growth and of the other macroeconomic indicators directly influences the forecast of the budgetary income. Therefore, the impact of fiscal-budgetary measures must be quantified as prudently and realistically, due to the fact that it allows the inclusion in the state budget of correct values for both revenues and expenditures. As in the case of approval in the case of execution, the government must submit similar comparative information for all financial performance data. A report on budget execution serves to encourage debate on budgetary aggregates and how they interact with the economy, serving as well as for better future programming. The way that the budgetary indicators for revenues and expenditure were achieved in the period 2013-2018 is presented in this paper. The analysis of the budget execution implications on the Romanian economy, during this period, is based on a series of relevant studies that highlight the impact of budgetary policies on the economy. The study aims to present and calculate the differences between budget program and achievements and to analyze, empirically, the implications of these differences on the Romanian economy
