An IMF mission will visit Romania next week to discuss the ways to secure the 2014 budget deficit target after the government postponed a tax on fuel.
The IMF experts "will discuss measures to compensate for the revenue shortfall from postponing the excise duty increase on fuel products by three months, so as to secure the budget's deficit target of 2.2 percent of GDP", the IMF said in a statement.
This target was agreed with the IMF and the European Union.
The centre-left governement of Prime minister Victor Ponta was forced to postpone the excise tax on fuel after its centre-right rival president Traian Basescu threatened to block the budget bill for 2014 if the tax were upheld.
In July, Romania concluded a deal with the International Monetary Fund and the European Union on a 4.0-billion-euro ($5.5 billion) precautionary credit line, which the government intends to tap only in the case of a crisis.
It was the third accord signed with international lenders since 2009, when Romania obtained a 20-billion-euro bailout package in exchange for austerity measures.
Romania is expected to book one of the highest growth rates in Eastern Europe this year.
An IMF mission will visit Romania next week to discuss the ways to secure the 2014 budget deficit target after the government postponed a tax on fuel.
The IMF experts “will discuss measures to compensate for the revenue shortfall from postponing the excise duty increase on fuel products by three months, so as to secure the budget’s deficit target of 2.2 percent of GDP”, the IMF said in a statement.
This target was agreed with the IMF and the European Union.
The centre-left governement of Prime minister Victor Ponta was forced to postpone the excise tax on fuel after its centre-right rival president Traian Basescu threatened to block the budget bill for 2014 if the tax were upheld.
In July, Romania concluded a deal with the International Monetary Fund and the European Union on a 4.0-billion-euro ($5.5 billion) precautionary credit line, which the government intends to tap only in the case of a crisis.
It was the third accord signed with international lenders since 2009, when Romania obtained a 20-billion-euro bailout package in exchange for austerity measures.
Romania is expected to book one of the highest growth rates in Eastern Europe this year.
