Romania:2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Romania

Author: International Monetary Fund. European Dept.

2022 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Romania

Volume/Issue: Volume 2022 Issue 310

Publication date: September 2022

ISBN: 9798400220562

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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.

Finance , Inflation , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , inflation expectation , EU membership , inflation outlook , EU accession , EU funds , cap scheme , Inflation , Fiscal stance , Energy prices , Consumer price indexes , Europe , Global

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Summary

After a solid recovery from the pandemic, Romania is now, like other EU countries, facing strong headwinds related to the war in Ukraine. Output reached pre-crisis levels in H1 2021 and growth in Q1 2022 was strong. But inflation has risen rapidly, and the external and fiscal positions are weak. The authorities are implementing a support package of energy price caps and subsidies for vulnerable groups.