The International Monetary Fund (IMF) delegation present in Bucharest these days did not ask Romania for drastic measures, tax increases or austerity measures, stated the minister of finance, Tanczos Barna, who met on Thursday with the new head of the IMF mission in Romania, Joong Shik Kang."By gradually restoring the budget balance, we will be able to avoid exactly those painful measures that Romania was forced to take during the 2009 crisis and which, rightly, still generate fear among the people regarding the visits of the International Monetary Fund. The International Monetary Fund delegation is on an informal working visit to Bucharest and, contrary to the alarmist rumors of the last few days, did not ask Romania for drastic measures, tax increases or austerity measures," the minister of finance wrote on his Facebook page.Tanczos Barna stated that, during the discussion with the representative of the international financial institution, he reaffirmed the commitment of the Romanian authorities to reduce the budget deficit and create a more flexible state in the next 7 years, increasing allocations for investments that support the economy."We agreed that Romania must regain the trust of international partners and investors, and this is possible only by respecting the commitments assumed and by bringing stability and predictability to the country's finances. We have already taken the first step, by adopting the budget, and now a consistent implementation is necessary," the same source emphasised.An International Monetary Fund mission is visiting Bucharest, from February 3 to 7, for an analysis of the latest economic developments and an update of the forecasts.Currently, Romania does not have an ongoing financing agreement with the International Monetary Fund, but the financial institution annually assesses the development of the Romanian economy, based on consultations on Article IV.
Romania’s main trade union confederations are preparing coordinated protest actions and considering a general strike in response to the government’s new fiscal and austerity measures, Economica.net reported. The decision was made during a meeting of union leaders evaluating the impact...
The Coalition for the Digital Economy, which brings together companies such as Uber, Glovo, Wolt, Bolt, Bringo, and Lime, in response to Ziarul Financiar's claims that the drivers of the ride-hailing operators are avoiding taxes and social security contributions, assured that this is not the case. ...
Romanian energy group OMV Petrom (BVB: SNP) will decide by the end of September on the special dividend, based on the progress of the investment projects, the impact of the present and future fiscal reforms implemented by the government, and the market conditions, the company's CFO Alina Popa explained, quoted by Cursdeguvernare.ro. ...
Romania’s teachers’ unions announced on August 5 that education minister Daniel David has pledged to ask prime minister Ilie Bolojan to drop some of the most contested measures from the government’s first package of reforms, Hotnews.ro reported. The...
Although the Romanian government is preparing two additional extensive reform packages, targeting mainly the spending cuts and a higher efficiency in the public administration, the 7% of GDP target for this year will not be met, with a level above 8% of GDP more likely, according to a research report by UniCredit Romania. "Yet, we […]
Deputy prime minister Tanczos Barna stated on August 4 that Romania’s second package of deficit-reduction measures cannot move forward without addressing magistrates’ pensions, Economedia.ro reported. He warned that failure to reform the system would jeopardise...
