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How to finance incompetence and corruption? We raise taxes
For the sustainability of public debt, given that the budget deficit reached 9.3% of Gross Domestic Product last year, a massive fiscal adjustment is necessary, i.e. a drastic reduction in public spending and better collection of revenues to the state budget, shows the report presented yesterday, at the National Bank of Romania, by Jeromin Zettelmeyer, director of the Bruegel Institute.
For the sustainability of public debt, given that the budget deficit reached 9.3% of Gross Domestic Product last year, a massive fiscal adjustment is necessary, i.e. a drastic reduction in public spending and better collection of revenues to the state budget, shows the report presented yesterday, at the National Bank of Romania, by Jeromin Zettelmeyer, director of the Bruegel Institute.
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