Romania: Staff Report for the 2015 Article IV Consultation

March 27, 2015

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Romania: Staff Report for the 2015 Article IV Consultation, (USA: International Monetary Fund, 2015) accessed November 23, 2024

Summary

This 2015 Article IV Consultation highlights that Romania’s economic recovery has become more entrenched and broad based, with private consumption picking up on the back of rising real disposable income. At the same time, inflation has decelerated substantially over the past two years and a negative output gap persists. The banking sector has considerably reduced nonperforming loans, though they remain high, and private sector credit has fallen since 2013. Growth is projected to remain robust in a low inflation environment. Raising growth prospects over the longer term requires continuity of sustainable macroeconomic policies, underpinned by stronger fiscal and regulatory institutions, and a more stable and predictable business environment, which is crucial for investor confidence.

Subject: Banking, Expenditure, Fiscal policy, Fiscal stance, Income, Inflation, National accounts, Prices, Public debt

Keywords: Central Asia, CR, Europe, Global, Government, Income, Inflation, ISCR, Private sector balance sheets, Revenue loss, Revenue shortfall, Shortfall, Spending restraint, Staff appraisal

Publication Details

Pages:

67
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/079
Stock No:

1ROMEA2015001
ISBN:

9781475552546
ISSN:

1934-7685

Notes

Also Available in Romanian

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