ROMANIA'S PUBLIC DEBT AND GENERAL FRAMEWORK FISCAL-BUDGETARY POLICY

Abstract

We appreciate that a developing country cannot build a solid democracy, based on a competitive economy and a system of social and economic infrastructure upgraded, rather than calling on foreign funding, generating external debt. At the basis of capitalist economies development credit is widely used at macro-economic level. Its role is to provide the opportunity to spend now and pay in a period to come, when the investment start to bring profit. For Romania, as well, for any State that resort to foreign loans, it is important that they be used for the development and modernization of the economy and infrastructure services and consumption, not only because it creates the potential for achieving sustainable growth, including by stimulating exports, creating the necessary resources as public foreign debt service to be honored.

Keywords

• public debt
• public debt management