TREND AND CHARACTERISTICS OF PUBLIC AND PRIVATE FOREIGN DEBT IN ROMANIA

In the article, the authors analyse the evolution of long-term private and public external debt in Romania in the period 2008-2022, as well as the evolution of related services, highlighting some of their characteristics, especially from the point of view of costs. The research shows that although medium and long-term public external debt increases almost continuously during the analysed period, while medium and long-term private external debt fluctuates, the costs are higher in the case of medium and long-term private external debt. Thus, the private external debt service in the medium and long term is higher than the public external debt service in the medium and long term, a situation generated by better loan conditions in the case of public external debt. The authors also show that the medium and long-term external public debt, respectively the related service, has deeper annual fluctuations compared to the medium and long-term external private debt. The methodology used combines the empirical analysis of statistical data and their interpretation, with the identification of causalities.