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Efficiency of financial indicators of the Romanian state budget, an objective of economic security during the epidemiological crisis

Author

Listed:
  • Valetin Marian Antohi

    (Dunarea de Jos University, Galati, Romania; Transylvania University, Brasov, Romania)

  • Costinela Fortea

    (Dunarea de Jos University, Galati, Romania)

  • Monica Laura Zlati

    (Stefan cel Mare University, Suceava, Romania; Dunarea de Jos University, Galati, Romania)

  • Romeo-Victor Ionescu

    (Dunarea de Jos University, Galati, Romania)

  • Cristian Mirica

    (Dunarea de Jos University, Galati, Romania)

Abstract

The financial structure of the state budget is a particularly important objective at the national level, aimed at ensuring economic security by providing resources to meet general objectives of national interest. During the - epidemiological crisis, due to changes in expenditure and revenue structures, the state budget was subject to financial pressures, accumulating deficits five times higher than in the period that followed the previous crisis of 2009-2012 and three times higher than at the beginning of the epidemiological crisis. The present scientific approach observes the main causes of vulnerability and identifies the economic and financial directions predicted based on the results of the last 10 years, taking into account the fact that economic security is a major objective that must be permanently monitored and adjusted through sustainable financial policies by institutional decision makers. This study uses prescriptive analytics methods, modelling data or financial results expressed in the national budgets from 2013 to 2021 in order to quantify the vulnerabilities that led to a large budget deficit. The results may prove to be useful to stakeholders, institutional decision makers or for the medium-term adjustment of financial policies.

Suggested Citation

  • Valetin Marian Antohi & Costinela Fortea & Monica Laura Zlati & Romeo-Victor Ionescu & Cristian Mirica, 2022. "Efficiency of financial indicators of the Romanian state budget, an objective of economic security during the epidemiological crisis," Journal of Financial Studies, Institute of Financial Studies, vol. 12(7), pages 38-51, May.
    • Handle: RePEc:fst:rfsisf:v:12:y:2022:i:7:p:38-51
    DOI: 10.55654/JFS.2022.7.12.03
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    References listed on IDEAS

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    More about this item

    Keywords

    budget revenues; budget expenditures; budget deficit; financial policies; forecasting; efficiency econometric modelJournal:Journal of Financial Studies;
    All these keywords.

    JEL classification:

    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • H62 - Public Economics - - National Budget, Deficit, and Debt - - - Deficit; Surplus
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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