Jeffrey Franks predicts inflation growth in Romania

Inflation will grow as a consequence of the increase in the VAT, said chief of the mission of the International Monetary Fund (IMF) for Romania Jeffrey Franks when at the end of a round of talks at the National Bank of Romania (BNR).

It goes without saying that inflation will suddenly grow as a result of the increase in the VAT, said Jeffrey Franks. The head of the IMF mission described the sudden growth of inflation as a result of the increase in the VAT and said that it would be a temporary phenomenon and would not be of a monetary character and, consequently, it would not influence the monetary policy.
Jeffrey Franks also said that the BNR monetary policy was very appropriate to the economic situation in Romania and he did not see any special reason for difficulties in the field of the monetary policy to be encountered.

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