Dynamics of Personnel Expenses in the General Consolidated Budget Depending on the Dynamics of the Gross Domestic Product, by Econometric Modeling

Assoc. prof. Nicolae Mihăilescu, PhD. (n.mihailescu@yahoo.com)
„Hyperion” University of Bucharest
Professor Florinel-Marian Sgărdea, PhD. (sgardeafm@gmail.com)
The Bucharest Academy of Economic Studies (ASE)
Assoc. prof. Claudia Căpățînă, PhD. (claudiacapatana@yahoo.com)
„Hyperion” University of Bucharest
Assoc. prof. Cristina Burghelea, PhD. (crystachy@yahoo.com)
„Hyperion” University of Bucharest


The analysis presented in this article identifies an econometric model of the interdependence of the personnel expense’s dynamics from the general consolidated budget with the dynamics of the gross domestic product of Romania for the period 2010-2017 and the levels estimated by the Ministry of Public Finance for the years 2018-2022.
The developed econometric model has th e linear unifactorial form and is supported by an adequate statistical support that confirms its usefulness for substantiating the decisions of macroeconomic policy, budgetary and fiscal.

Keywords: personnel expenses from the general consolidated budget, gross domestic product, econometric model
JEL Classification: C52, H51, H61

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Romanian Statistical Review 3/2021