Analysis of Budget Deficit in Romania during 2006-2012

The current economic crisis teaches us a very important lesson. In periods of economic boom, it is indicated that the economic policies to be more cautious to prevent the accumulation of imbalances and to ensure the safety margins that would allow an appropriate response in cases of large unfavorable shocks. The significant role of fiscal policy in macroeconomic policies is already known. It must be brought into account the fact that fiscal policy has a limited space for maneuver, in the sense of working as a stabilizer, being imited by budget deficit threshold.