The Sustainability of Public Finances in Republic of Moldova Under EU Fiscal Rules
This paper analyses public finances sustainability in the Republic of Moldova under the European Union fiscal rules, by estimating the structural budget balance indicator using a three steps methodology. We concluded that, except for 2009, the Republic of Moldova complies with the Maastricht numeric...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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Editura Universităţii „Alexandru Ioan Cuza” din Iaşi / Alexandru Ioan Cuza University of Iasi Publishing house
2016-06-01
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| Series: | Scientific Annals of Economics and Business |
| Subjects: | |
| Online Access: | http://www.degruyter.com/view/j/saeb.2016.63.issue-2/saeb-2016-0112/saeb-2016-0112.xml?format=INT |
| _version_ | 1818911290797588480 |
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| author | Covalschi Tatiana Lazăr Sebastian |
| author_facet | Covalschi Tatiana Lazăr Sebastian |
| author_sort | Covalschi Tatiana |
| collection | DOAJ |
| description | This paper analyses public finances sustainability in the Republic of Moldova under the European Union fiscal rules, by estimating the structural budget balance indicator using a three steps methodology. We concluded that, except for 2009, the Republic of Moldova complies with the Maastricht numerical fiscal rule; however it does not comply with the new fiscal rules regarding the structural deficit and public expenditures growth that had been set by the Fiscal Compact. The fact that budget deficits and public debt had been sustainable was mainly because of the concessions made by the external creditors in restructuring the public debt and was not a merit of national government. Moreover, since the regular budget deficit and the structural one tell different stories, we strongly advocate for using the latter in order to complement the existing data with a medium-term budgetary view. |
| first_indexed | 2024-12-19T22:56:21Z |
| format | Article |
| id | doaj.art-e1fdcc00f4a845129dd5af8d60d1d80f |
| institution | Directory Open Access Journal |
| issn | 2501-3165 |
| language | English |
| last_indexed | 2024-12-19T22:56:21Z |
| publishDate | 2016-06-01 |
| publisher | Editura Universităţii „Alexandru Ioan Cuza” din Iaşi / Alexandru Ioan Cuza University of Iasi Publishing house |
| record_format | Article |
| series | Scientific Annals of Economics and Business |
| spelling | doaj.art-e1fdcc00f4a845129dd5af8d60d1d80f2022-12-21T20:02:38ZengEditura Universităţii „Alexandru Ioan Cuza” din Iaşi / Alexandru Ioan Cuza University of Iasi Publishing houseScientific Annals of Economics and Business2501-31652016-06-0163214915910.1515/saeb-2016-0112saeb-2016-0112The Sustainability of Public Finances in Republic of Moldova Under EU Fiscal RulesCovalschi Tatiana0Lazăr Sebastian1Faculty of Economic Sciences, Moldova State University, Moldova (Republic of)Faculty of Economics and Business Administration, University Alexandru Ioan Cuza of Iași, RomaniaThis paper analyses public finances sustainability in the Republic of Moldova under the European Union fiscal rules, by estimating the structural budget balance indicator using a three steps methodology. We concluded that, except for 2009, the Republic of Moldova complies with the Maastricht numerical fiscal rule; however it does not comply with the new fiscal rules regarding the structural deficit and public expenditures growth that had been set by the Fiscal Compact. The fact that budget deficits and public debt had been sustainable was mainly because of the concessions made by the external creditors in restructuring the public debt and was not a merit of national government. Moreover, since the regular budget deficit and the structural one tell different stories, we strongly advocate for using the latter in order to complement the existing data with a medium-term budgetary view.http://www.degruyter.com/view/j/saeb.2016.63.issue-2/saeb-2016-0112/saeb-2016-0112.xml?format=INTpublic financesustainabilitypublic debtbudget deficitoutput gapstructural deficit |
| spellingShingle | Covalschi Tatiana Lazăr Sebastian The Sustainability of Public Finances in Republic of Moldova Under EU Fiscal Rules Scientific Annals of Economics and Business public finance sustainability public debt budget deficit output gap structural deficit |
| title | The Sustainability of Public Finances in Republic of Moldova Under EU Fiscal Rules |
| title_full | The Sustainability of Public Finances in Republic of Moldova Under EU Fiscal Rules |
| title_fullStr | The Sustainability of Public Finances in Republic of Moldova Under EU Fiscal Rules |
| title_full_unstemmed | The Sustainability of Public Finances in Republic of Moldova Under EU Fiscal Rules |
| title_short | The Sustainability of Public Finances in Republic of Moldova Under EU Fiscal Rules |
| title_sort | sustainability of public finances in republic of moldova under eu fiscal rules |
| topic | public finance sustainability public debt budget deficit output gap structural deficit |
| url | http://www.degruyter.com/view/j/saeb.2016.63.issue-2/saeb-2016-0112/saeb-2016-0112.xml?format=INT |
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