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IMF: Romanian currency RON to improve performance on medium and long term

Miercuri, 3 octombrie 2007, 0:00

IMF Chief of Mission for Romania and Bulgaria, Albert Jaeger declared on Tuesday that the Romanian RON will appreciate on medium and long term, considering the evolution of other emergent countries.

The International Monetary Fund representatives recommended local authorities a budgetary deficit under 2% of GDP, a smaller one than that projected for the fiscal year 2008 and a realist projection of revenues.

Jaeger said that in case the budgetary deficit target for 2007 will be reached this will have an important fiscal impact.

Moreover, IMF warns that the fragile political environment in Romania does not aid the medium term economic strategies. As the European Union holds a financial perspective on seven years, Romania needs a plan to exploit all available opportunities.

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