Public Debts Trends in the Current Economic Context, from Both National and International Perspective


  • Doina Dascalu Spiru Haret University
  • Dragos Ungureanu Spiru Haret University



public debt, state loan, public debt sustainability, vulnerability, budget deficit, gross domestic product (GDP), indebtedness, the European Accounts System, Maastricht Treaty


. The article presents an analysis of the way public debt operates in Romania, in the context of states economies trends, of complex and topical financial environments.In the context of a functional market economy, the issues faced by certain states involving high public debt levels or potential budgetary pressure risks converge towards the idea that public finances sustainability needs to be a major challenge at the level of public policies. Considering this situation, the adequate policies to tackle public finances sustainability need to have, as a launching base, the overall strategy of the European Union, focused on the three component parts, namely abatement of public debt, increasing productivity and employment and last but not least, reforming the pension and healthcare systems.To ensure reasonably sustainable public debt levels, EU member states need to attain medium term strategic budgetary objectives, that would ensure a downward trend of public debt, a condition which can be fulfilled by compliance with budget policies rules, which ground development in the macroeconomic framework.


Bîrzea Cezar, European Union policies and institutions, Corint Publishing House, Bucharest, 2001

Dascălu D., Datoria publică, reglementări și administrare in România (Public Debt, Regulations and Management in Romania), Editura Didactică și Pedagogică RA, Bucharest, 2008

Dascălu D., Ungureanu M.D., Considerations regarding the analyses of public debt in the current economic context, both national and international level, International Conference on Economic Sciences and Business Administration, 20-21 noiembrie 2015

Gheorghe D. Bistriceanu, Lexicon de finanţe-bănci-asigurări (Finances-banks-insurances Lexicon), Vol. II , Editura Economică, Bucharest, 2001

Harold M. Groves, Financing Government, sixth edition, Holt, Rinehart and Winston, New York, Chicago, San Francisco, 1964

Kouvertaris George, Moschonas Andreas (co-editors), The impact of the European Integration, political, sociological and economic changes, PRAGER, Westport, Connecticut, London, 1996

McKinnon, The Theory ”Optimum currency areas (OCA)”, 1963, in which the economy openness degree is mentioned as an important convergence criteria

Mekson M.H., Albert M., Khedouri F., Management, Third Edition, Harper-Row, Publisher, New York, 1995

Treaty on European Union, published in Official Journal C 191 of 29 July 1992

National Bank of Romania – Report on financial stability 2012, drafted by the – the Directorate for Financial Stability

Ungureanu M.D. – Politici şi instituţii financiar-bancare europene, Editura Universitară, București, 2015

Văcărel I. et al, Finanţe publice (Public Finances), second edition, Editura Didactică şi Pedagogică – Bucharest, 2008

William J. Shultz, C. Lowell Harriss, American Public Finance, sixth edition, New York, 1954, the Maastricht Treaty on European Union, National Institute for Statistics, Romanian Court of Accounts


Additional Files



How to Cite

Dascalu, D., & Ungureanu, D. (2015). Public Debts Trends in the Current Economic Context, from Both National and International Perspective. Journal of Economic Development, Environment and People, 4(4), 31–46.