FinMin Teodorovici: Romania, to respect commitments assumed with international financial institutions of below 3 pct deficit

Romania will respect its commitments assumed with the international financial institutions below the 3 percent deficit, and the measures taken in 2018 will ensure both for this year and next year a sustainable economic development, Finance Minister Eugen Teodorvici states at the meeting with Poul Thomsen, the Director of the European Department of the International Monetary Fund. 

According to a press release of the Public Finance Ministry sent to AGERPRES on Sunday, Eugen Teodorovici participated, 20-21 April 2018, in the Spring Meeting of the World Bank Group and International Monetary Fund in Washington, the USA.

"Romania is going in the right direction, resuming sustainable economic growth based on investments. The Q1, 2018 dynamic of budget revenues is above the annual dynamic forecasted for the Gross Domestic product (11.4 percent as compared to 7.9 percent, nominal GDP growth), being, with the exception of the one recorded in Q1, 2015, the highest post-crisis," Teodorovici maintained.

The Finance Minister also had a meeting with Cyrill Muller, the deputy president of the World Bank for Europe and Central Asia. The discussions focused on the current portfolio of projects underway, financed by the bank in Romania, among which the project on the National Agency for Fiscal Administration (ANAF)'s modernisation and its continuation in a revised form by the MFP, adapted for ensuring quality services for contributors. In the context, the head of the Finances proposed the WB leadership a new approach regarding the way to grant loans, which would lead to a more flexible use of loan sums, depending on the preparation and accomplishment degree of the projects.

According to MFP, the Romanian delegation's agenda featured meetings with representatives of investment banks, rating agencies and officials of international financial institutions. Aspects related to the macro-economic milieu, the macroprudential surveillance, the evolution of the inflation as well as priorities for the upcoming period were presented.

The Public Finance Minister was accompanied in Washington by secretaries of state with the MFP, ANAF officials and of the Strategy and Prognosis Committee, as well as representatives of Romania's National Bank.