Romania: 2007 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Romania

June 25, 2007

Summary

The 2007 Article IV Consultation explains Romania’s fiscal and income policies and financial sector issues. The economic outlook is clouded by a widening current account imbalance and the risk of a resurgence of inflation pressures, as a result of strong domestic demand that is being fuelled by rapid credit growth and procyclical fiscal and incomes policies. Executive Directors emphasized the need for policies that reduce vulnerabilities, support sustainable growth, and maximize the gains from EU membership.

Subject: Balance of payments, Credit, Currencies, Current account balance, Current account deficits, External debt, Money, Public debt

Keywords: authority, CR, Credit, credit growth, Current account balance, Current account deficits, exchange-rate movement, Global, inflation objective, ISCR, NBR, NBR staff, NBR stress tests, policy mix, Romania, U.S. dollar

Pages:
64
Volume:
2007
DOI:
https://doi.org/10.5089/9781451832877.002
Issue:
219
Series:
Country Report No. 2007/219
Stock No:
1ROMEA2007001
ISBN:
9781451832877
ISSN:
1934-7685

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