## Romania: 2021 Article IV Consultation-Press Release and Staff Report

_IMF Staff Country Reports, August 27, 2021_

## Source details

**Canonical URL:** [Romania: 2021 Article IV Consultation-Press Release and Staff Report](https://www.imf.org/en/publications/cr/issues/2021/08/27/romania-2021-article-iv-consultation-press-release-and-staff-report-464813)

## Other formats

- [Markdown version](/en/publications/cr/issues/2021/08/27/romania-2021-article-iv-consultation-press-release-and-staff-report-464813/index.md)
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## Bibliographic details
- Published: August 27, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513594897.002

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### Summary and key findings
- 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.

### Projections and outlook
- Strong recovery projected in 2021.

### Fiscal policy, consolidation, and public debt
- The new government intends to:
  - Balance continued pandemic-related support with the start of a medium-term fiscal consolidation trajectory.
  - Correct pre-pandemic excesses through consolidation measures.
- Fiscal stance: move from pandemic support toward medium-term consolidation.

### Structural reforms and external support
- Implement a range of structural reforms to support recovery.
- Large Next Generation EU grants are expected to bolster medium-term recovery and reform efforts.

### Thematic coverage and keywords
- 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

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- **1rouea2021001**
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_Source: https://www.imf.org/en/publications/cr/issues/2021/08/27/romania-2021-article-iv-consultation-press-release-and-staff-report-464813_