European Parliament Library

Romania :, 2008 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Romania

The staff report for the 2008 Article IV Consultation of Romania reviews the issues to tighten fiscal policy, putting less of the stabilization burden on the fledgling inflation-targeting framework. GDP growth has remained strong, underpinned by massive capital inflows. Executive Directors observed that large capital inflows related to Romania’s accession to the European Union, compounded by procyclical fiscal policies, have contributed to booms in domestic demand and credit and emerging capacity constraints. They recommended that structural reform efforts be relaunched to support per capita income convergence to EU levels
Table Of Contents
Cover; Executive Summary; Contents; I. Overview; Boxes; 1. Response to IMF Advice; II. Background; A. Real and Nominal Convergence; B. External and Internal Balance; Figures; 1. Real, Nominal, and Financial Convergence; 2. Selected EU Countries: A Regional Perspective on Absorption Booms, 2003-07; 3. Capacity Pressures and Inflation Indicators, 2003-08; C. Financial Stability; 2. Exchange Rate Assessment; 4. Exchange Rate Developments, 2007-08; 5. External Balance Sheet Indicators, 2000-07; 6. Financial Sector Vulnerabilities, 2004-07; D. Policy Developments; 7. Selected Asset Prices, 2007-08
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (66 p.)
Specific Material Designation
Form Of Item

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