November 21, 2017

IMF: new review mission to Romania

Last week a joint team from the International Monetary Fund, European Commission and the World Bank arrived in Romania to conduct the fourth review under the EUR 5 billion stand-by arrangement. The mission will meet with representatives of the government, the business environment and civil society organizations. Romania’s economy is predicted to grow this year, although forecasts from international banks point to a sluggish recovery from the recession. The European Bank for Reconstruction and Development (EBRD) estimates a 0.8 % growth while the World Bank forecasts 1.5 %. Central and Eastern Europe will grow by 1.1 % according to the IMF. Prime Minister, Emil Boc, said late last month that Romania would reach an absorption rate of EUR 6 billion of European funds to create additional growth and jobs.  Jeffrey Franks, chief of the IMF mission, met with the heads of fiscal institutions to discuss the collection of revenue for the budget.

Source: Business-Review (read more)

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