The Implications of the Measures Aiming Economic Recovery During the Pandemic Upon the Fiscal Management Strategy in Romania

Abstract

In the current socio-economic context, the recovery of the Romanian economy involves new challenges regarding the balance between the financing need and the output of the economy affected by the economic crisis. At the level of the fiscal administration the pressure for ensuring the budgetary balance manifested itself by raising the tension upon fiscal functions and upon the human resource involved in the activity of the agency. We estimate that the evaluation of the strategy alterations at the level of fiscal management will highlight the main vulnerabilities which the process of strategic management can aim through measures for correcting them into a sustainable direction. The purpose of the study is to project a statistic model that reevaluates the ratio between the fiscal vectors and VAT on the basis of the data collected during the pandemic. The model aims at evaluating the causal relations as well as the versatility of the fiscal management policies in order to create an instrument for fiscal improvement that can be used by the fiscal authorities during the process of economic recovery.

Keywords

• pandemic
• economic crisis
• financial stress
• economic solution
• statistical model