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Theoretical Considerations on the Fiscal Space

Author

Listed:
  • Adriana Elena PORUMBOIU

    (Doctoral School of Finance, Bucharest University of Economic Studies, Bucharest, Romania)

  • Petre BREZEANU

    (Department of Finance, Bucharest University of Economic Studies, Bucharest, Romania)

Abstract

This paper aims to capture the concept of fiscal space, which in principle denotes the amounts that governments can use to finance unforeseen or development expenditures without jeopardizing the country's fiscal sustainability, as well as the factors on which the size of available fiscal space depends. The importance of the fiscal space is highlighted again starting with 2020, with the covid-19 pandemic, when aid measures for some sectors of activity and the affected active population have requested additional amounts from governments, but the possibilities for intervention need to be calculated taking into account public debt, budget balance, tax collection performance and the ability to allocate resources efficiently.

Suggested Citation

  • Adriana Elena PORUMBOIU & Petre BREZEANU, 2021. "Theoretical Considerations on the Fiscal Space," Finante - provocarile viitorului (Finance - Challenges of the Future), University of Craiova, Faculty of Economics and Business Administration, vol. 1(23), pages 136-141, November.
    • Handle: RePEc:aio:fpvfcf:v:1:y:2021:i:23:p:136-141
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    More about this item

    Keywords

    fiscal space; public debt; cost efficiency;
    All these keywords.

    JEL classification:

    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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