IMF-EC delegation to pay official visit in Bucharest next month

The discussions target 2015 budget draft.

A joint mission of experts from the International Monetary Fund (IMF) and European Commission (EC) will be in Bucharest during December 2-10 to discuss with the Romanian authorities the budget draft for 2015, Ministry Public Finances announced in a press release. The mission will be led by Andrea Schaechter – IMF and the Istvan Szekely – EC.

On Wednesday Romanian president Traian Basescu made calling on the Government representatives to submit the draft budget for the next year as soon as possible, showing that it is a priority.

A new loan agreement between Romania and IMF would send investors a message of confidence and engagement regarding fiscal discipline and reform, Romanian investment fund Fondul Proprietatea’s manager Grzegorz Konieczny, stated in a press conference. “External verification and assistance from honorable international financial institutions such as the IMF, it is always useful and increase investor confidence in the Romanian economy, which started to grow and has a 5 percent growth potential,” according to Konieczny.

IMF has urged Romania not to endanger the progress it has made in recent years, by keeping a tight check on spending.
“There is a commitment from Romania to continue to consolidate the fiscal situation. So we expect such a commitment to be fulfilled,” Guillermo Tolosa, the IMF representative to Romania and Bulgaria, said recently, quoted by Reuters news agency. Tolosa added that “great efforts have been made to strengthen Romania’s economy, so it is important for the country not to endanger this considerable effort.”

2015 budget draft lawAndrea SchaechterECFondul ProprietateaGrzegorz KoniecznyGuillermo TolosaIMFloan agreementtraian basescu
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