Romania: Selected Issues
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Summary:
This paper examines Romania’s external stability risks. Recent Romanian data indicate high increases in real wages, not matched by comparable productivity gains. Both the government and the National Bank of Romania (NBR) have highlighted the importance of a responsible and stabilizing wage policy for macroeconomic stability in the country current juncture. A three-pronged approach is recommended that encompasses capacity building and improved transparency, a medium-term framework for fiscal policy, and increased use of independent fiscal expertise.
Series:
Country Report No. 2008/210
Subject:
Balance of payments Budget planning and preparation Current account deficits Labor Public financial management (PFM) Real exchange rates Real wages Wage setting Wages
Frequency:
Monthly
English
Publication Date:
July 2, 2008
ISBN/ISSN:
9781451832907/1934-7685
Stock No:
1ROMEA2008002
Pages:
61
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