Since the end of the 19th century, the Liberal National Party engaged to rectify the economic situation by itself without resorting to external loans, but running the policy “by ourselves”, a policy of budgetary austerity and public expenditure limitations from fiscal revenues, encouraging the state’s economic function. The liberal budgetary policy mainly relied on revenue increase from public wealth increase. This budgetary component of the liberal economic policy kept running until the first interwar decade, contributing to the normalization of public finance during the national economic crises. Similar measures were recommended after 1989 to adapt the Romanian public finance to the market economy requirements. But often their application was delayed by the respective political climate.

provision, initiative, normalization