"Although the GDP grew by 8-9 billion euros per year, the state revenues remained constant at 23 billion euros. The fiscal and wage pressures will heavily affect the state budget, unless solutions are found in order to make budget spendings more efficient.
The government will have to choose between carrying out reforms in order to be able to fulfill the promises and expanding its funding sources. It is worth mentioning, in this context, that in the last 5 years, authorities have borrowed from banks the equivalent of 20 billion euros. This is the approximate amount which we borrowed from the IMF and the WB to overcome the crisis" , according to analysts from KeysFin, the authors of the study.
For more information, please see the Romanian version of the article, here.