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IMF mission chief sees Romania 2017 budget gap above target
March 17, 2017 / 12:33 PM / 8 months ago

IMF mission chief sees Romania 2017 budget gap above target

BUCHAREST, March 17 (Reuters) - Romania’s budget deficit is likely to overshoot the 3.0 percent of gross domestic product target this year and reach 3.7 percent, with tax cuts and wage hikes in excess of productivity seen as key threats to the economy, the IMF said on Friday.

International Monetary Fund mission chief Reza Baqir told reporters after a visiting team on Article IV consultations with officials, he expected a 3.9 percent fiscal shortfall in 2018.

Romania has shrunk its budget and current account deficits under a series of IMF-led aid deals during 2009-2015.

Its last precautionary aid deal from the European Commission and the IMF expired in September 2015 without a positive review. (Reporting by Luiza Ilie; writing by Radu Marinas)

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