6533b831fe1ef96bd129982c
RESEARCH PRODUCT
The Importance of a Medium-term Budgetary Framework in Enhancing the Sustainability of Public Finances in Romania
Cristina Maria (Bătuşaru) TiţaIlie BanuAlexandra (Vasile) Oţeteasubject
fiscal governance.Fiscal systemEconomic policyCorporate governancemedia_common.quotation_subjectGeneral Engineeringsustainability of the fiscal systemEnergy Engineering and Power TechnologyLegislaturemedium-term budgetary frameworkFiscal unionMedium termquality of public financesSustainabilityEconomicsQuality (business)Fiscal federalismmedia_commondescription
Abstract The reform that the romanian fiscal system should follow aims to increase the quality of public finances and fiscal governance and strengthening fiscal discipline through better management of budgetary resources. This can be achieved by taking legislative and institutional measures, such as a new law on fiscal responsibility, developing a long-term fiscal strategy, moving to a multi-annual budget programming by implementing a medium-term budgetary framework, the introduction of strict fiscal rules and the establishment of an Independent Fiscal Council. The purpose of this paper is to highlight the importance of adopting a medium-term budgetary framework by Romania and the role that this public fiscal management tool plays in the development of budgetary procedures to ensure fiscal discipline and sustainability of national public finances.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2014-01-01 | Procedia Economics and Finance |