ECONOMIE | ENGLISH

IMF concludes visit to Romania

Autor: Bancherul.ro
2018-11-12 21:20

IMF Staff Concludes Visit to Romania (press realease):

End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion.

An International Monetary Fund (IMF) staff team led by Jaewoo Lee visited Bucharest during November 6-12, 2018, to discuss recent macroeconomic and policy developments.

At the end of the mission, Mr. Lee issued the following statement:

“Economic activity in Romania remains strong with unemployment at a record low. Concerns about overheating have lessened with a recent slowdown in activity and inflation pressures for the year appear to have peaked. The National Bank of Romania has tightened monetary policy and liquidity management, helping contain inflation pressures. Going forward, a tightening bias in monetary policy should be maintained to anchor inflation expectations and contain external risks. The financial system’s health has improved, and the cap on debt service to income on household loans should help maintain financial stability.

“Fiscal consolidation would enhance room for fiscal policy maneuver, thereby reducing the economy’s vulnerability to domestic and external shocks. Despite several years of strong growth, the budget deficit has gone up rather than down, as it should during good times, and the 2018 target remains at risk without further measures. At the same time, spending composition is increasingly skewed towards rigid items to the detriment of public investment. The 2019 budget and medium-term fiscal framework need to target smaller deficits in line with European Union (EU) commitments and keep public debt-to-GDP ratio on a downward trend. This necessitates high quality measures. In this regard, current initiatives to improve public spending efficiency—expenditure reviews and a centralized procurement—are welcome. It is also critical to modernize the revenue administration. Furthermore, increases in public wage and planned changes to pension benefits should be reassessed for their negative implications for fiscal sustainability and long-term growth.

“Well-targeted structural reforms and strong governance are needed to raise growth potential. Strengthening public investment institutions remains a priority to help address Romania’s large infrastructure gap, including by facilitating higher absorption of EU funds. The corporate governance of state-owned enterprises can be improved, and exemptions to Law 111/2016 should be avoided. The envisaged sovereign investment fund should follow international best practices. Romania’s fight against corruption should continue, as reducing corruption helps improve government revenue, enhance spending efficiency, and strengthen competitiveness. Several recent legislative initiatives have created uncertainty, giving rise to concerns about good governance and the financial system, which are a basis for sustained long-term growth.

“The mission held fruitful discussions with the Minister of Public Finance Eugen Teodorovici, National Bank of Romania Governor Mugur Isărescu, and other government officials, representatives from the private sector, and civil society organizations. The mission thanks the authorities for their hospitality.”

Comentarii

Adauga un comentariu

Adauga un comentariu folosind contul de Facebook

Alte stiri din categoria: ENGLISH

Merger of Alpha Bank and UniCredit Bank Romania

Press Release: "Alpha Services and Holdings announces a strategic partnership with UniCredit in Romania Merger of Alpha Bank Romania and UniCredit Bank Romania and creation of third largest bank in Romania by total assets, with Alpha Bank retaining a detalii

National Bank of Romania (NBR) Board decisions on monetary policy

NBR Board decisions on monetary policy In its meeting of 4 April 2023, the Board of the National Bank of Romania decided: • to keep the monetary policy rate at 7.00 percent per annum; • to leave unchanged the lending (Lombard) facility rate at 8.00 percent per annum and the deposit facility rate at 6.00 percent per annum; • to keep the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions. The annual inflation rate went down to 15.52 percent in February 2023, from 16.37 percent in December 2022, relatively in line with forecasts. The decrease was mainly driven by the sizeable drop in the dynamics of fuel and detalii

ING posts 2022 net result of €3,674 million, dividend of €0.389 per share

ING press release: ING posts FY2022 net result of €3,674 million,
proposed final 2022 dividend of €0.389 per share

4Q2022 profit before tax of €1,711 million; CET1 ratio remains strong at 14.5%
•
Profit before tax up 29% on 4Q2021 and 24% on 3Q2022, mainly driven by higher income
•
Higher net interest income, as a further increase in liability margins helped offset TLTRO impact this quarter
•
Risk costs declined to 17 bps of average customer lending

Full-year 2022 net result of €3,674 million, supported by growing customer base and increase in lending and deposits
•
On a full-year basis, our primary customer base grew by 585,000 detalii

BT Financial Results as at 30 September 2022

BT Financial Results as at 30 September 2022 Banca Transilvania – sustained growth in customers and operations during the first nine months of the year "We continued our robust growth in the number of clients and transactions, with a dynamic well above the market average. We have been growing steadily and continued financing companies and individuals, despite the fact that the financial market is more fraught with uncertainty than ever and
the funding costs and capital requirements are additional factors driving the uncertainty in the economy. We remain committed to our objective - to be the main supporter of the economy and of the state for the development of Romania", states Mr. Ӧmer Tetik, Chief Executive detalii

Vezi toate stirile

21.11.2024

1 EUR = lei
1 USD = lei

Sursa BNR

Profil de Bancher

Felix Daniliuc, director general
Raiffeisen Leasing

... vezi profil

Toate Profilele

Profil de Banca

CEC Bank

vezi detalii

Toate Bancile

Filmul Parking, un cliseu plictisitor

Toate stirile

ING Bank

Toate stirile

Ultimele Comentarii

LOAN OFFER
Buna ziua Aceasta pentru a informa publicul larg că oferim împrumuturi celor care au nevoie de ... detalii
!
Greu cu limba romana! Ce legatura are cuvantul "ecosistem" din limba romana cu sistemul de plati ... detalii
Bancnote vechi
Am 2 bancnote vechi:1-1000000lei;2-5000000lei Anul ... detalii
Bancnote vechi
Numar de ... detalii
Bancnote vechi
Am 3 bancnote vechi:1-1000000lei;1-5000lei;1-100000;mai multe bancnote cu eclipsa de ... detalii

Nume	*
E-mail	*
E-mail prieten	*
Mesaj
Cod validare	*
	Tastati codul din imagine (doar cifre)
	195.154.184.126