{
  "title": "Romania: Selected Issues",
  "publication": "IMF Staff Country Reports, March 27, 2015",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/romania-selected-issues-42808",
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  "summary": "This Selected Issues paper discusses benefits of boosting quality public infrastructure spending in Romania. Since the financial crisis, fiscal and current account deficits have been tackled, but the infrastructure deficit has widened.",
  "sections": [
    {
      "heading": "Key findings",
      "content": "- Since the financial crisis, fiscal and current account deficits in Romania have been tackled, but the infrastructure deficit has widened.\n- Quality public investment in infrastructure can boost domestic demand and potential GDP growth, particularly in low growth environments.\n- IMF staff simulations employing the European Union’s production function methodology show significant growth benefits from higher quality infrastructure spending.\n- As a result of higher investment, real GDP would increase by about 1 percent initially with the impact peaking in 2025."
    },
    {
      "heading": "Simulations and projections",
      "content": "- Methodology: European Union’s production function methodology (as employed by IMF staff simulations).\n- Central quantitative outcome: real GDP increases by about 1 percent initially.\n- Timing: impact peaks in 2025."
    },
    {
      "heading": "Policy implications and recommendations",
      "content": "- Prioritize boosting quality public infrastructure spending to:\n  - Support domestic demand.\n  - Raise potential GDP growth, especially in a low growth environment.\n- Emphasize the quality of public investment to maximize growth payoffs rather than focusing solely on investment volume.\n\nSource: IMF Staff Country Report \"Romania: Selected Issues\" (March 27, 2015).\n\n---\n\n Content in this bundle\n\n- Romania: Selected Issues; IMF Country Report No. 15/79; March 10, 2015\n  - Romania: Selected Issues; IMF Country Report No. 15/79; March 10, 2015 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Romania: Selected Issues; IMF Country Report No. 15/79; March 10, 2015 (PDF){rel=\"external\" type=\"application/pdf\"}\n- ROMÂNIA: ASPECTE SELECTATE; Raport de Ţară al FMI Nr. 15/80; Martie 2015\n  - ROMÂNIA: ASPECTE SELECTATE; Raport de Ţară al FMI Nr. 15/80; Martie 2015 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - ROMÂNIA: ASPECTE SELECTATE; Raport de Ţară al FMI Nr. 15/80; Martie 2015 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: March 27, 2015",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781475553116.002",
    "Since the financial crisis, fiscal and current account deficits in Romania have been tackled, but the infrastructure deficit has widened.",
    "Quality public investment in infrastructure can boost domestic demand and potential GDP growth, particularly in low growth environments.",
    "IMF staff simulations employing the European Union’s production function methodology show significant growth benefits from higher quality infrastructure spending.",
    "As a result of higher investment, real GDP would increase by about 1 percent initially with the impact peaking in 2025.",
    "Methodology: European Union’s production function methodology (as employed by IMF staff simulations).",
    "Central quantitative outcome: real GDP increases by about 1 percent initially.",
    "Timing: impact peaks in 2025.",
    "Prioritize boosting quality public infrastructure spending to:",
    "Emphasize the quality of public investment to maximize growth payoffs rather than focusing solely on investment volume.",
    "**Romania: Selected Issues; IMF Country Report No. 15/79; March 10, 2015**",
    "**ROMÂNIA: ASPECTE SELECTATE; Raport de Ţară al FMI Nr. 15/80; Martie 2015**"
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