英语翻译During the period after 1989,Romania faced more and more to public debt accumulation as a new matter of macroeconomic policy,in contrast to other Central and East-European countries such as Bulgaria,Czech Republic,Hungary or Poland.While

英语翻译During the period after 1989,Romania faced more and more to public debt accumulation as a new matter of macroeconomic policy,in contrast to other Central and East-European countries such as Bulgaria,Czech Republic,Hungary or Poland.While
英语翻译
During the period after 1989,Romania faced more and more to public debt
accumulation as a new matter of macroeconomic policy,in contrast to other Central
and East-European countries such as Bulgaria,Czech Republic,Hungary or Poland.
While the external debt of Romania was insignificantly in 1990 (US$230 million),
the other Central and East-European countries were already confronted with debt
amounts of many billions of USD (Hungary – US$21.3 billion,Bulgaria – US$10.9
billion,the Czech Rep.– US$4.4 billion).In the case of Poland,the figure was close
to US$50 billion.Eight years later,in 1998,the external debt of Romania had already
increased up to more than 9 billion USD,while the other countries (with the
exception of the Czech Republic,where external debt was five times larger than in
1990) registered either a modest growth (e.g.the case of Hungary,with a growth of
US$5.5 billion) or even a diminution (Poland,with more than US$6 billion,partially
caused by cancellation of a proportion of its external debt,and in Bulgaria with close
to one billion USD).One of the weakest performance of the Romanian economy
after 1989 was the poor experience regarding the management of public debt and
budget deficits.
The evolution of the external debt in Romania,as a share in GDP evaluated in
US dollars and respectively in Lei,is shown in Figs 1 and 2.The statistical data on
which graphs were based are presented in Appendix 1.
Contrary to the advanced countries,the external debt is in Romania the main
component of the total debt.However,in later years one can see that accumulation of
domestic public debt became a more important source to cover deficits.For instance,
in 1998 it represented almost 8% of the GDP.This evolution is directly related to the efforts meant to improve the management of domestic debt,especially by enacting a
new rule in April 1997 regarding the development of a secondary market for state
obligations,restricting access to the external sources of financing and taking over in
public debt an important volume of non-efficient credits.For instance,the share of
the state loans approved by special normative documents evolved as follows:in 1992
– 8.1%; in the 1993-1996 period – an average level of 5.7% (with a maximum share
of 11.7% in 1995); and in 1998-1999 – more than 30%,during an accelerating
restructuring process of the banking system.

英语翻译During the period after 1989,Romania faced more and more to public debt accumulation as a new matter of macroeconomic policy,in contrast to other Central and East-European countries such as Bulgaria,Czech Republic,Hungary or Poland.While
在1989以后时期,罗马尼亚越来越多的面向是一个和其它中心和在东方的-例如保加利亚 欧洲国家,捷克斯洛伐克的民国,匈牙利金色相比新的宏观经济的政策的问题公债积累波 兰.在外部债务的罗马尼亚无关紧要地是在1990((US$230百万)的同时,其它中心和在东方 的-欧洲国家已经面对债务量的很多的几十亿USD((匈牙利?CUS$21.3十亿,保加利亚 CUS$10.9十亿,捷克共和国?CUS$4.4十亿).在情况的波兰中,数字是接近 US$50十亿.八years较后在朝派1998外面债务的罗马尼亚有已经增加向上的移动向超过九 十亿USD在的同时其他的countries(用例外的捷克斯洛伐克的民国地方外面债务was五次 更大与相比在朝派1990)登记任一个谦逊增长(例如情况的匈牙利用增长的US$5.5十亿)金 色整a减少波兰用超过US$6十亿部分造成在附近取消的一和在接近十亿USD保加利亚用中 部分它的外部债务.一个在1989 was以后罗马尼亚的经济中最软弱表现是尊重公债和预算 赤字的管理可怜经验 当一份国内生产总值在美国美元中和分别在Lei身上估价时,外部债务在朝派罗 马尼亚的演变被在无花果1和2中展示.关于哪一个图被把放置在基座上统计的数据 被在附录1中提出.相反地总债务的主要成分在罗马尼亚中是对先进国家,外部债务.但是,在以后的年代里一能注意到国内公债债务的积累成为多一的重要来源包括赤字.在1998它中例如代表国内生产总值的几乎8%.这直接和努力有关演变存在被用向制定一1997年4月新规定在朝派,尊重一次要的限制接近的机会国家obligations的市场的发展表示特别改进国内债务的管理 external sources of financing and taking over in public debt an important volume of non-efficient credits.For instance,the share of the state loans approved by special normative documents evolved as follows:in 1992 C 8.1%; in the 1993-1996 period C an average level of 5.7% (with a maximum share of 11.7% in 1995); and in 1998-1999 C more than 30%,during an accelerating restructuring process of the banking system.