Romania: Staff Report for the 2002 Article IV Consultation

January 17, 2003

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Romania: Staff Report for the 2002 Article IV Consultation, (USA: International Monetary Fund, 2003) accessed November 29, 2024

Summary

This 2002 Article IV Consultation highlights that since mid-2001, a combination of budget restraint, ambitious energy price adjustments, and prudent monetary policy moderated domestic demand and reduced the current account deficit in Romania. At the same time, export and GDP growth were among the highest in the region, reflecting the fruits of private investments in export-oriented consumer goods industries over the last few years, and the gains in competitiveness from the 1999 adjustment in the real effective exchange rate. Rising productivity, complemented by moderate economy-wide wage growth, has preserved competitiveness.

Subject: Credit, Currencies, Economic sectors, Energy sector, External debt, Labor, Money, Wages

Keywords: Authority, Central and Eastern Europe, CR, Credit, Currencies, Deficit, Eastern Europe, Energy sector, EU accession, EU economy, Europe, Global, IMF staff representative, ISCR, Staff appraisal, Staff welcome, Wages, Western Europe

Publication Details

Pages:

61
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2003/011
Stock No:

1ROMEA0012003
ISBN:

9781451832730
ISSN:

1934-7685

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