Romania: Fourth Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Romania.
IMF Staff Country Reports, April 2, 2012
Source details
- Canonical URL
- Romania: Fourth Review Under the Stand-By Arrangement and Request for Modification of Performance Criteria: Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Romania.
Other formats
Bibliographic details
- Authors: Arrangement, Request
- Published: April 2, 2012
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475502794.002
Program status and financing
- The paper discusses Romania’s fourth review under the Stand-By Arrangement and request for modification of performance criteria.
- The authorities are treating the arrangement as precautionary.
- Additional funds under the program are provided by the European Union.
Economic performance and drivers (2011)
- The economy grew by 2.5 percent in 2011.
- Growth was driven by an exceptional agricultural harvest and strong industrial output growth.
- Domestic demand strengthened as construction and retail sales started to recover, fuelled by higher real disposable incomes.
Covered policy topics and keywords
- Subject areas: Arrears, Banking, External debt, Fiscal policy, Fiscal stance, Inflation, Prices, Public debt.
- Keywords: Arrears, CR, Europe, Fiscal stance, Global, Inflation, ISCR, Policy implementation, securitizing SOE arrears, spending, spending discipline, state budget, target, target band, Western Europe.