An Evaluation of the Economic and Financial Crisis's Impact on Local Budgetary Aggregates: The Romanian Case☆

In the situation of the economic and financial crisis, the budget situation of both the central government and local governments will deteriorate, but the latter will be distributed mainly with taxes (stable property tax etc.) with stable taxation criteria. At the same time, the central and local governments that have so far carried out macroeconomic stability tasks should adopt countermeasures designed to combat the effects of the crisis, taking account of the responsibilities assigned to them and the local level of local governments is. The crisis should complement the central government's efforts and support the expected positive effects. However, to outline some possible action policies, it is necessary to carefully analyze the impact of the crisis on municipal revenues and expenditure. This is seldom assumed in the literature (especially in Romania) and often involves a central budget problem. For these reasons, this paper aims to analyze the impact of the crisis on income based on the data of Eurostat, Romanian Ministry of Finance, Romanian State Statistics Bureau, and Financial Committee. Romanian municipal expenditure, budget budget, and debt emphasize those characteristics related to the theory and other central and Eastern European countries recorded impacts. This document also analyzes the changes recorded in the revenues and expenditure structure of the local budget of Romania to complement the rationality of measures taken at the local level during the crisis and with economic stability and long- It is aimed at evaluating sex. The term economic growth suggests some feasible and viable solutions at the right time

Proposed changes that apply to policy or system operations as a series of tests. When legal and / or regulatory changes are made, their potential economic and budgetary impacts are usually assessed. The three design principles in this article provide an additional framework for analyzing such proposals. How will the changed changes affect the outlook of reaction relationships, the core competence of adults and children, and the cause of stress relief compared to current surgery? Given these potential implications, how strong is the currently expected change (or the opposite)? How can we modify the proposal to create better impacts and reduce adverse effects?

In the situation of the economic and financial crisis, the budget situation of both the central government and local governments will deteriorate, but the latter will be distributed mainly with taxes (stable property tax etc.) with stable taxation criteria. At the same time, the central and local governments that have so far carried out macroeconomic stability tasks should adopt countermeasures designed to combat the effects of the crisis, taking account of the responsibilities assigned to them and the local level of local governments is. The crisis should complement the central government's efforts and support the expected positive effects. However, to outline some possible action policies, it is necessary to carefully analyze the impact of the crisis on municipal revenues and expenditure.

Evaluation of the impact of economic and financial crisis on local finance: in case of Romania ☆