DYNAMICS OF THE SHARE OF EDUCATION EXPENDITURES WITHIN ROMANIA’S GROSS DOMESTIC PRODUCT - ECONOMIC AND SOCIAL EFFECTS

Abstract

The paper fundamentally starts from a generally accepted truth, namely the one stating that education is the basic foundation of social, cultural, and economic development, the guarantee of building a future when young generations are going to benefit from new abilities, knowledge, and ideals; its financing represents a key issue in accomplishing its long term mission in society. The hereby approach deals with an analysis of the evolution of education expenditures within Romania’s gross domestic product which mainly determine the basic economic and social effects.

Keywords

• public education
• private education
• public expenditures
• financing
• State budget
• subsidies
• population
• companies
• evolution