IMF finds Romania’s macroeconomic policies solid, says PM Ponta

Newsroom 24/04/2015 | 14:58

Romania has sound macroeconomic policies and the country’s GDP has returned to the pre-crisis level, premier Victor Ponta wrote on his Facebook page on Friday, citing a set of data from the most recent International Monetary Fund (IMF) evaluation report.

“Some of Romania’s macroeconomic strengths, according to the most recent IMF evaluation, are: it has solid macroeconomic policies in place and the GDP has returned to the pre-crisis level. The healthy fiscal policy has reduced vulnerabilities and the baseline scenario of the evaluation team projects sustained growth that is seen reaching about 3 percent in the medium term,” wrote the prime minister on his Facebook page.

Ponta also stressed that liquidity reserves are high, nearing 5 percent of GDP. “The size of the Treasury buffer means that liquidity reserves are high, standing at almost 5 percent of GDP. The current account deficit reduced significantly against the backdrop of Romania’s improved competitiveness, and inflation hit a record low of 1.1 percent in 2014. The exchange rate remained mostly stable — the national coin is generally in line with medium-term premises,” Ponta noted.