Romania: 2021 Article IV Consultation-Press Release and Staff Report

Author: International Monetary Fund. European Dept.

2021 Article IV Consultation-Press Release and Staff Report

Volume/Issue: Volume 2021 Issue 190

Publication date: August 2021

ISBN: 9781513595245

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , expert fund assistance , General government balance sheet , government effectiveness , monetary policy response , headline inflation , COVID-19 , Fiscal stance , Fiscal consolidation , Global

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Summary

Among EU countries, Romania suffered a relatively shallow recession in the COVID-19 crisis, aided by macroeconomic easing. A strong recovery is projected in 2021. The new government is committed to balance continued pandemic-related support with the start of a medium-term fiscal consolidation trajectory that corrects pre-pandemic excesses, while implementing a range of structural reforms. These efforts, as well as the medium-term recovery, should be bolstered by large Next Generation EU grants.