Some directions of action in the management of public debt meant to minimize the risks of a debt crisis in Romania

In the article, the author aims to highlight some directions of action in the management of the public debt meant to minimize the risks of the outburst of a debt crisis in Romania, in the domestic and international context. The analysis shows that the evolution of Romania's total public debt in the period 2015-2019 is positive, in the sense of improved sustainability. The economic literature suggests that there are two conditions whose implementation could prevent a financial and a debt crisis from occurring (an early warning system and a regulatory scheme with "teeth"). Comparing the fiscal policy in Japan and Greece, the author presents some features for minimizing the risks of a debt crisis and shows that the rules of fiscal policy change fundamentally when a country becomes a member of a monetary union. Starting from the main economic problems of Romania and from the experience of the public debt crises in some countries of the European Union, there are made proposals for actions aimed at leading to the minimization of the risks of a debt crisis in Romania. The methodology used consists in comparative and descriptive analyses, drawing of conclusions and literature review.