IMF Mission urges Gov’t to continue reform

The International Monetary Fund (IMF) Mission drew the Government’s attention that Romania is facing a larger economic contraction than the one predicted at this year-start and that it must adjust the budget deficit accordingly, urging the Executive to continue the reform measures it has launched, said Premier Emil Boc at the end of the talks with IMF delegation.

„Members of the Government had an informal meeting with IMF representatives, within which both the European Commission (EC), IMF and the World Bank (WB) representatives have presented in essence a few data resulted from the preliminary analysis they made together with the Romanian authorities.

First of all, it is about a somewhat larger then expected economic contraction we took into account together with IMF and the EC at this year-start. Secondly, an adjustment of the budget deficit is needed, and thirdly we have to continue the reform measures started to be implemented by the Government”, said Emil Boc.

The Premier stressed that both EC and IMF representatives appreciated two things: that till July 1 the Executive respected the assumed pledges as for the macro-economic indicators, established in a difficult economic context.

As well, they appreciated the measures adopted since this year-start on the line of budget spending cutting. According to the Premier, IMF Mission underlined the need to continue these reforms.

„From this standpoint, I want to be very clear: the Government I represent has the political will to continue these reforms, and to go till the very end.

And when I speak about reforms I mainly refer to the finalization of the single pay law in the public sector – I explicitly urged the ministers to observe the October deadline for the finalization and adoption of this law, therefore we did not ask for a delay in this regard because any delay would mean an unjustified postponement of some important decisions for the country”, underlined Emil Boc.

As well, the IMF Mission asked the Government to pass to the structural reforms implementation and to continue those started in the public sector.
Another measure asked by the IMF Mission refers to the finalization and adoption till this year-end of a single law regulating the public pensions field.


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