Romania: First Review under the Stand-By Arrangement and Request for Modification of Performance Criteria—Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Romania.
June 29, 2011
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Romania’s economy has stabilized and growth is now resuming. The financial program’s objectives include structural reforms in the energy and transport sectors, and restructuring and privatization of state-owned enterprises (SOEs). The macroeconomic outlook is expected to improve in 2011–12 with a gradual pickup in growth, a stable current account, and inflationary pressures that are still high but will begin to recede after mid-2011. The authorities are also focusing on reducing the arrears of the rest of the public sector.
Subject: Arrears, Banking, External debt, Fiscal policy, Fiscal stance, Inflation, Prices, Public debt
Keywords: Arrears, consumer sentiment indicator, CR, disbursement of SDR, Europe, executive board's discussion, Fiscal stance, Global, government, government ordinance, Inflation, ISCR, precautionary Stand-By Arrangement, securitizing SOE arrears, Western Europe
Pages:
80
Volume:
2011
DOI:
Issue:
158
Series:
Country Report No. 2011/158
Stock No:
1ROUEA2011004
ISBN:
9781455276530
ISSN:
1934-7685
