The Implication of the Public Budget in Financing the Regional Development

• Main Authors: Dumitru BELDIMAN, Jenica POPESCU
• Format: Article
• Language: English
• Published: Universitaria Publishing House 2018-11-01
• Series: Finanţe: Provocările viitorului
• Subjects: public budget; regional development; European funds; financing
• Online Access: http://www.financejournal.ro/fisiere/revista/67323122814_Beldiman%20en.pdf
• ISSN: 1583-3712; 1583-3712

With reference to Romania, in particular, but also to other member states of the European Union, we can state that, yearly, the process of regional development of these states, is dependent on the public budget they dispose. The regional development implies not only a strategy in perfect tune but also the identification and the provision of some real, accessible financing sources. As concerns the mentioned strategy, one must mention that it is highly important that it is elaborated based on some thorough analyses and on specific fields that have as support realistic data, in order to be angle to establish achievable development goals. As concerns the financing sources that will contribute to the insurance of the sustainability of the strategy of regional development, the practice proved that these must be ensured for an average or long time so as they can be able to reach their objective. The identification and insurance of the financing sources of the strategy of regional development is a highly complex process that represents a priority for every state. In Romania’s case, for instance, the main financing sources of the regional development strategy 2014 -2020 are represented by funds allocated from the public budget and from the European funds. Because of this reason, in the present scientific approach I intend to analyse the implications that the public budget has in financing the regional development, taking into account that on level and its availability also depends the absorption of European funds.