The Board of the International Monetary Fund (IMF) requests that Romania implement a right mix of policies and ambitious structural reforms to support growth, restore fiscal sustainability and protect financial stability, according to the report prepared by the international financial institution, following the Bucharest consultations on Article IV.''Executive Directors welcomed the recently adopted large fiscal reform package for 2025-26, which marks an important step in addressing the widening twin deficits. Amid a necessary large fiscal consolidation, and with risks tilted to the downside, Directors called for the right policy mix and ambitious structural reforms to support growth, restore fiscal sustainability, and safeguard financial stability,'' reads the quoted document.IMF directors stressed the importance of fully implementing the planned fiscal consolidation in 2025-2026, followed by further adjustments over the medium term to strengthen market confidence and ensure fiscal sustainability.An IMF mission led by Joong Shik Kang reviewed recent developments in the Romanian economy in Bucharest in September.The Fund's team met 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.Article IV consultations are a mandatory monitoring exercise for all member countries. Their purpose is to examine the financial and economic situation at the national level and to formulate general recommendations on monetary, financial, and economic policies to be followed to ensure stability and positive developments in the economy.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.This year, an IMF mission also took place in Bucharest, also led by Joong Shik Kango, from February 3 to 7, 2025.The International Monetary Fund predicts that Romania's economy will grow by 1% in 2025 and by 1.4% in 2026, estimates that are lower compared to those in the spring, of 1.6% and 2.8%, respectively.
Romanian president Nicușor Dan announced on Tuesday, December 9, that French president Emmanuel Macron will pay an official visit to Romania in 2026. The confirmation was made during Dan’s visit to Paris, where the two leaders held extensive discussions on defence, security, and economic...
Ireland can be seen as one of the most important business hubs in Europe and the European Union, as many international companies have established regional headquarters there. If you are looking for a country to expand your enterprise, you should definitely consider Ireland for several reasons that are presented below. Location and language The first […]
Cyprus is mostly known as a tourist destination. However, there is also a business side to it, as many investors choose it to open companies because of the favorable taxation system. Apart from its low corporate tax rate, there are a few more reasons why you should choose it if you are looking for a […]
The Romanian Commercial Code provides for various types of entities that can be created by natural persons and companies, local or foreign. Each of them has its own particularities, which can give it various advantages. How do you choose among them? We will review the main types of companies and their pros to help you […]
A new alley named after Romanian diplomat Nicolae Titulescu was inaugurated on Tuesday, December 9, in Paris’s Parc Monceau during a ceremony attended by Romania’s president Nicușor Dan and Paris mayor Anne Hidalgo. “I expressed my appreciation for the decision to name an alley in the beautiful Parc Monceau in Paris after the great Romanian […]
Oxygen Resort, a development located in central Romania’s Harghita county, has inaugurated its first bungalows. The first 18 bungalows are already functional, with another 17 units to be completed in the next stage, bringing the total to 35. The inauguration of the bungalows “marks the transition from a center dedicated predominantly to recreational activities to […]
