Romania: Selected Issues

July 2, 2008

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Romania: Selected Issues, (USA: International Monetary Fund, 2008) accessed September 27, 2024

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.

Subject: Balance of payments, Budget planning and preparation, Current account deficits, Labor, Public financial management (PFM), Real exchange rates, Real wages, Wage setting, Wages

Keywords: Asia and Pacific, Balance of payments, Baltics, Budget, Budget culture, Budget planning and preparation, Budget process need, Budget revision, Budget submission, Catch-up effect, CR, Current account, Current account balance, Current account deficits, Eastern Europe, EU accession, EU convergence economy, Europe, Global, ISCR, Net position, Pay, Real wages, Romania, Wage pressure, Wage setting, Wages

Publication Details

Pages:

61
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2008/210
Stock No:

1ROMEA2008002
ISBN:

9781451832907
ISSN:

1934-7685

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