FinMin Ivan: We discussed with IMF delegation how elimination of cap influences competitiveness of economy

The Minister of Energy, Bogdan Ivan, had a discussion on Wednesday with the International Monetary Fund (IMF) delegation, led by Joong Shik Kang, about energy policies and their impact on the Romanian economy."We analyzed the effects of eliminating the cap on energy prices, in a context in which Romania has among the highest prices in Europe. We discussed how eliminating the cap influences the competitiveness of the economy, but also how, on a completely liberalized market, operators are starting to lower prices to attract customers. There are already 3 commercial offers on the market with a price lower than 1.3 lei/kWh, the value at which the price was capped until July 1. The best regulation mechanism remains a functional and efficient market. In this sense, Romania's integration into the European Union's Single Energy Market and increasing the degree of interconnection with neighboring states are essential for stability and for lowering energy prices," the minister wrote on his Facebook account.He emphasized that, in this context, he highlighted the performance of state-owned energy companies, the most important listed on the stock exchange and which consistently demonstrate very good results - "a clear sign that transparency and good governance bring value to the economy and security for Romanians"."We continue to work together, with our international partners and all market players, for a stable, competitive and beneficial energy market for every Romanian", Ivan pointed out.An International Monetary Fund's mission, led by Joong Shik Kang, is paying a visit to Bucharest, from 3 to 12 September 2025, to analyze recent developments in the Romanian economy."The Fund team will review recent economic developments and policies. It will meet with officials from the Ministry of Finance, the National Bank of Romania, and other government agencies, as well as representatives of the private sector and non-governmental organizations," the international financial institution announced.The consultations constitute a surveillance exercise that is mandatory for all member states. The purpose of the Article IV consultations is to examine the financial and economic situation at the national level and to formulate general recommendations regarding monetary, financial and economic policies to be followed to ensure stability and positive developments at the economic level.Currently, Romania does not have an ongoing financing agreement with the International Monetary Fund, but the financial institution annually evaluates the evolution of the Romanian economy, based on Article IV consultations.