The Fund also said in its statement that it expects high energy and food prices to keep the inflation rate high until the end of 2023.
The IMF also pointed out that Romania’s budget deficit shrank in 2021 and it will slightly consolidate in 2022 amid growing revenues.
“We started from a forecast of 2.2% in spring 2022 when the World Economic Outlook report of the IMF presented a reserved perspective on economic growth, against the background of the international context and the approach to the armed conflict on our border. And here, today, we are at the 4.8% forecast, and the more than two percentage points positive correction of the economic growth forecast represents a confirmation of the correct approach that the Government has in relation to the situation at the level of the entire European Union,” stated Romania’s finance minister Adrian Caciu.
According to the Romanian finance ministry, the Executive Committee of the IMF appreciated the importance of implementing prudent macroeconomic policies to ensure stability and, at the same time, stimulating structural reforms to support economic growth.