FISCAL CONSOLIDATION IN TIMES OF UNCERTAINTY: BETWEEN SUSTAINABILITY AND SOCIAL EQUITY

LEONIDA, Ionel

doi:10.65672/jfme.2025.1.5

FISCAL CONSOLIDATION IN TIMES OF UNCERTAINTY: BETWEEN SUSTAINABILITY AND SOCIAL EQUITY

Authors

LEONIDA, Ionel — Centre for Financial and Monetary Research “Victor Slavescu”, N.I.E.R., Romanian Academy, Bucharest, Romania

Landing page: https://www.icfm.ro/jfme.icfm.ro/articles/vol13i1p65-72.html

PDF: Download / View PDF

DOI: 10.65672/jfme.2025.1.5

This is the official DOI landing page for this article. The DOI resolves here (not directly to the PDF).

Abstract

In the history of contemporary economies, increasingly frequent crises and rapid technological transitions have favored the emergence of periods of uncertainty that have required conjunctural adaptations and strategic reconfigurations, often directly targeting fiscal-budgetary policy, respectively the fiscal consolidation process. In this context, the paper aims to analyze the issue of fiscal-budgetary consolidation in periods in which economic and social uncertainty are prominent, with an emphasis on maintaining a certain balance between budgetary sustainability and social equity. A complex approach is proposed to overcome the exclusively numerical vision, percentages, and aims to integrate economic and social dimensions. It also aims to capture national experiences (Greece, Romania, Germany, Portugal, Hungary and Bulgaria) and integrate the main theoretical paradigms (Keynesianism, neoliberalism, social justice). The results lead to the conclusion that the efficiency of consolidation depends on the state's capacity to ensure the balance between fiscal discipline and social equity.

JEL Classification

H12, H50, H60, H62

Keywords

fiscal consolidation, sustainability, social equity, uncertainty, public policies

How to cite

LEONIDA, Ionel (2025). FISCAL CONSOLIDATION IN TIMES OF UNCERTAINTY: BETWEEN SUSTAINABILITY AND SOCIAL EQUITY. Journal of Financial Management and Economics, 13(1), 65-72. DOI: 10.65672/jfme.2025.1.5.

RePEc record

Handle: Repec:vls:rojfme:v:13:y:2025:i:1:p:65-72