Romania: Staff Report for the 2015 Article IV Consultation
IMF Staff Country Reports, March 27, 2015
Source details
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- Romania: Staff Report for the 2015 Article IV Consultation
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Bibliographic details
- Published: March 27, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475552546.002
Macroeconomic overview and recovery
- Romania’s economic recovery "has become more entrenched and broad based," with private consumption picking up on the back of rising real disposable income.
- Inflation "has decelerated substantially over the past two years" while a negative output gap persists.
- Growth is projected to remain robust in a low inflation environment.
Financial sector and credit
- The banking sector "has considerably reduced nonperforming loans, though they remain high."
- Private sector credit "has fallen since 2013."
Policy challenges and requirements for higher long‑term growth
- Raising growth prospects over the longer term requires:
- continuity of sustainable macroeconomic policies;
- stronger fiscal and regulatory institutions; and
- a more stable and predictable business environment, which is crucial for investor confidence.
Subject coverage and keywords
- Subject: Banking, Expenditure, Fiscal policy, Fiscal stance, Income, Inflation, National accounts, Prices, Public debt
- Keywords: Central Asia, CR, Europe, Global, government, Income, Inflation, ISCR, private sector balance sheets, revenue loss, revenue shortfall, shortfall, spending restraint, staff appraisal