Romania: 2008 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Romania
July 2, 2008
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The staff report for the 2008 Article IV Consultation of Romania reviews the issues to tighten fiscal policy, putting less of the stabilization burden on the fledgling inflation-targeting framework. GDP growth has remained strong, underpinned by massive capital inflows. Executive Directors observed that large capital inflows related to Romania’s accession to the European Union, compounded by procyclical fiscal policies, have contributed to booms in domestic demand and credit and emerging capacity constraints. They recommended that structural reform efforts be relaunched to support per capita income convergence to EU levels.
Subject: Consumer price indexes, Fiscal policy, Fiscal stance, Inflation, Prices, Public debt
Keywords: Consumer price indexes, CR, deficit, disinflation objective, FDI inflow, Fiscal stance, GDP deflator, Global, headline inflation, Inflation, ISCR, NBR, Romania, world financial market tension
Pages:
64
Volume:
2008
DOI:
Issue:
208
Series:
Country Report No. 2008/208
Stock No:
1ROMEA2008001
ISBN:
9781451832891
ISSN:
1934-7685
