BUDGET DEFICIT AND PUBLIC DEBT, INDICATORS OF NOMINAL CONVERGENCE OF ROMANIA WITH EUROPEAN UNION

The budget deficit and public debt represent Romania’s two most important elements of the system of criteria for accession to the euro single currency. Therefore their combined and complex analysis for a longer time period, before the initial target, can put us in a position to obtain some interesting conclusions about the reason why our country has not adopted the single currency in 2013. Such an analysis allows the foundation of a coherent and feasible program to adopt the single currency in the future. As it is normal, this program will be based on the performance, according to standards, of all nominal and real criteria for transition to the single currency, as explained and detailed within the Maastricht Treaty.