{
  "title": "Romania: 2021 Article IV Consultation-Press Release and Staff Report",
  "publication": "IMF Staff Country Reports, August 27, 2021",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2021/08/27/romania-2021-article-iv-consultation-press-release-and-staff-report-464813",
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  "summary": "Among EU countries, Romania suffered a relatively shallow recession in the COVID-19 crisis, aided by macroeconomic easing. A strong recovery is projected in 2021.",
  "sections": [
    {
      "heading": "Summary and key findings",
      "content": "- Among EU countries, Romania suffered a relatively shallow recession in the COVID-19 crisis, aided by macroeconomic easing.\n- A strong recovery is projected in 2021.\n- The new government is committed to balance continued pandemic-related support with the start of a medium-term fiscal consolidation trajectory that corrects pre-pandemic excesses, while implementing a range of structural reforms.\n- These efforts, as well as the medium-term recovery, should be bolstered by large Next Generation EU grants."
    },
    {
      "heading": "Projections and outlook",
      "content": "- Strong recovery projected in 2021."
    },
    {
      "heading": "Fiscal policy, consolidation, and public debt",
      "content": "- The new government intends to:\n  - Balance continued pandemic-related support with the start of a medium-term fiscal consolidation trajectory.\n  - Correct pre-pandemic excesses through consolidation measures.\n- Fiscal stance: move from pandemic support toward medium-term consolidation."
    },
    {
      "heading": "Structural reforms and external support",
      "content": "- Implement a range of structural reforms to support recovery.\n- Large Next Generation EU grants are expected to bolster medium-term recovery and reform efforts."
    },
    {
      "heading": "Thematic coverage and keywords",
      "content": "- Subject: COVID-19, Fiscal consolidation, Fiscal policy, Fiscal stance, Health, International organization, Monetary policy, Public debt, Revenue administration\n- Keywords: COVID-19, expert fund assistance, Fiscal consolidation, Fiscal stance, General government balance sheet, Global, government effectiveness, headline inflation, monetary policy response\n\n---\n\n Content in this bundle\n\n- 1rouea2021001\n  - 1rouea2021001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1rouea2021001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: August 27, 2021",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781513594897.002",
    "Among EU countries, Romania suffered a relatively shallow recession in the COVID-19 crisis, aided by macroeconomic easing.",
    "A strong recovery is projected in 2021.",
    "The new government is committed to balance continued pandemic-related support with the start of a medium-term fiscal consolidation trajectory that corrects pre-pandemic excesses, while implementing a range of structural reforms.",
    "These efforts, as well as the medium-term recovery, should be bolstered by large Next Generation EU grants.",
    "Strong recovery projected in 2021.",
    "The new government intends to:",
    "Implement a range of structural reforms to support recovery.",
    "Large Next Generation EU grants are expected to bolster medium-term recovery and reform efforts.",
    "Subject: COVID-19, Fiscal consolidation, Fiscal policy, Fiscal stance, Health, International organization, Monetary policy, Public debt, Revenue administration",
    "Keywords: COVID-19, expert fund assistance, Fiscal consolidation, Fiscal stance, General government balance sheet, Global, government effectiveness, headline inflation, monetary policy response",
    "**1rouea2021001**"
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