IMF: 2010 budget is realistic

The 2010 budget is realistic and the challenge is to send it to Parliament as fast as possible, the International Monetary Fund chief of mission Jeffrey Franks said at the end of talks held at the Public Finances Ministry on Tuesday.

‘We have had two days of very satisfactory talks. On a technical level we have an agreement on the 2010 budget. It is a very realistic budget, with a deficit of 5.9 percent of GDP,’ Franks said, adding that the challenge at this moment is that it should be sent to Parliament as fast as possible.
As for the 2009 budget, the IMF official said that in November the Fund was concerned that the deficit target would be substantially surpassed, but added that now things looked much better and there was a chance the deficit target to be attained.

He specified that the IMF mission would return to Romania in January 2010 and, if budget was endorsed and evaluation completed, the Fund would “move” as fast as it could to release the loan tranches.
Franks mentioned that there was a possibility to release the fourth loan tranche earlier than scheduled, in March 2010, but didn’t specify whether the tranches no three and four would be released together.

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