IMF delegation continues talks with Romanian officials

Publish date: 03-08-2010
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The International Monetary Fund (IMF) delegation continues the talks with the Romanian officials in Bucharest in view of drafting the Letter of Intent, which is to be discussed upon together with the BNR Governor Mugur Isarescu and the National Bank of Romania (BNR) experts starting on Monday.

According to Tonny Lybek, the Head of the IMF Office for Romania and Bulgaria, the Letter of Intent is normally being reviewed and updated, on the occasion of each visit the IMF pays to Romania.

Prime Minister Emil Boc said on Sunday that the IMF and the European Commission delegates did not ask Romania to increase the VAT or the flat tax.

According to the IMF Romanian representative Mihai Tanasescu, Romania will be able to preserve a 6.8 percent budgetary deficit as forecast by the IMF, by improving the collection process, paying expenses for investments and accessing European funds, 'despite the context of a 1.9 percent economic decline for 2010 and the need to cut the arrears to zero by spring 2011.'

In his opinion, through the fiscal policies agreed upon this year and updated by 2011 and by improving the collection process, the 4.4 percent deficit target set for next year could be met as well, without additional measures which will lead to new constraints.

The Minister of Public Finance Sebastian Vladescu on Friday pointed out that no other taxation hikes or salary cuts are needed


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