Romania: Selected Issues

International Monetary Fund

No 2008/210, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper examines Romania’s external stability risks. Recent Romanian data indicate high increases in real wages, not matched by comparable productivity gains. Both the government and the National Bank of Romania (NBR) have highlighted the importance of a responsible and stabilizing wage policy for macroeconomic stability in the country current juncture. A three-pronged approach is recommended that encompasses capacity building and improved transparency, a medium-term framework for fiscal policy, and increased use of independent fiscal expertise.

Keywords: ISCR; CR; Romania; pay; current account; budget; budget revision; current account balance; budget culture; wage pressure; EU accession; catch-up effect; budget submission; balance of payments; budget process need; EU convergence economy; net position; Real wages; Budget planning and preparation; Wages; Current account deficits; Wage setting; Baltics; Global; Eastern Europe; Europe; Asia and Pacific (search for similar items in EconPapers)
Pages: 61
Date: 2008-07-02
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Citations: View citations in EconPapers (4)

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