Romania: Third Review Under the Stand-By Arrangement—Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Romania.
January 23, 2012
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This paper discusses key findings of the Third Review of Romania’s economic performance under a program supported by a 24-month Stand-By Arrangement (SBA). The authorities are on track to achieve their 2011–12 deficit targets, but stepped-up efforts are needed on key structural reforms. Inflation has dropped sharply, reflecting food prices deflation and the removal of the VAT base effect. All end-September quantitative performance criteria and indicative targets were met, and inflation returned to the inner band of the inflation consultation mechanism.
Subject: Arrears, External debt, Fiscal policy, Fiscal stance, Inflation, Prices, Public debt
Keywords: Arrears, bond issue, copayment, copayment law, CR, Europe, executive board's discussion, Fiscal stance, Global, Inflation, ISCR, legislation, Policy implementation, risks in the banking system, securitizing SOE arrears, target, Western Europe
Pages:
91
Volume:
2012
DOI:
Issue:
011
Series:
Country Report No. 2012/011
Stock No:
1ROUEA2012001
ISBN:
9781463932510
ISSN:
1934-7685
