Munich Personal RePEc Archive

Romania's public debts and their consequences upon the economy

Popa, Ionela and Codreanu, Diana and Albici, Mihaela (2010): Romania's public debts and their consequences upon the economy. Published in: Conference Proceedings 3, The 15-th International Conference the Knowledge-Based Organization (27. November 2009): pp. 140-143.

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Abstract

In June 2009, Romania’s public debts rose by 12.6% more than late last year, that is up to 123.61 billion Lei (29.4 billion Euros), meaning 23.27% of the gross domestic product originally estimated for this year. Foreign loans are not a new phenomenon. Yet, in the current economic context, it is the consequences which might occur that bother most of us as a result of the (significant) increase of public debts. Concluding a loan agreement with the International Monetary Fund is « necessary evil » because it has both advantages and disadvantages. This paper aims at analyzing aspects regarding the benefits, direct and indirect costs, and social effects of such a loan.

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