AN EMPIRICAL ANALYSIS OF THE POTENTIAL EFFECTS INDUCED BY THE IMPLEMENTATION OF THE MEDIUM-TERM BUDGETARY OBJECTIVE IN THE COUNTRIES OF THE EUROPEAN UNION

In this paper, an analysis will be carried out, which aims to identify potential effects induced by the implementation of the mechanism on the medium-term budgetary objective on the evolution of public finances in Member States that record public debts of over 90% of gross domestic product, but also on Romania. The indicators whose developments will be presented and analyzed are: economic growth; the level of the public debt, the budget deficit (conventional) and the structural balance. The research method used in the paper emphasizes the empirical analysis, by identifying and presenting the possible effects induced by the implementation of the medium-term budgetary objective mechanism on some fiscal-budgetary indicators. The obtained results can be constituted in arguments of efficiency or ineffectiveness of the mechanism of the medium- term budgetary objective.