Romania: 2021 Article IV Consultation-Press Release and Staff Report

Download or read book Romania: 2021 Article IV Consultation-Press Release and Staff Report written by International Monetary and published by International Monetary Fund. This book was released on 2021-08-27 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt: Among EU countries, Romania suffered a relatively shallow recession in the COVID-19 crisis, aided by macroeconomic easing. A strong recovery is projected in 2021. The new government is committed to balance continued pandemic-related support with the start of a medium-term fiscal consolidation trajectory that corrects pre-pandemic excesses, while implementing a range of structural reforms. These efforts, as well as the medium-term recovery, should be bolstered by large Next Generation EU grants.