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Romania must consolidate its current achievements, believes Jeffrey Franks

IMF's mission chief to Romania Jeffrey Franks on Tuesday, in Vienna, said that the important moment for Romania was the consolidation of the achievements made until now in the reform process.

It is a positive process, with a real reform in the fiscal sector, with adjustments in the pension system. The fiscal responsibility law is a good ongoing process and the existence of the Fiscal Council is a positive thing for Romania, Jeffrey Franks told Agerpres, when attending the Euromoney Central and Eastern European Forum in Vienna.

The IMF official said that it was necessary for the reform to be carried out faster in some sectors, such as the administration sector, but he mentioned that this was not a specific problem for Romania alone, and that a similar situation can also be found in other countries in the region, such as Hungary, Croatia, Serbia and Bulgaria, whose economies had been weakened by the crisis.

Franks also said that the Fund's estimations for Romania in 2011 were optimistic and showed the possibility of resuming the economic growth. The Fund estimates the internal demand would resume its growth over the year and the key of economic relaunch is the exports, Franks also mentioned.

Secretary of State with the Finance Ministry Bogdan Dragoi showed in his speech during the Forum's plenary session that 'the reform measures implemented by Romania were unpopular,' but necessary and they now showed their results.

'We have been forced to freeze pensions and salaries and to increase the VAT to 24 percent at the same time, measures which have been painfully felt by the population. We have concentrated on cutting expenses and deficits and the results have begun to appear,' Dragoi told the ministers' and central banks governors' panel in the first part of the Forum.

Over 1,000 governmental officials, bankers, representatives of the business environment in the Central and Eastern Europe area and representatives of some international bodies attend the Euromoney Forum.

Sursa: http://www.actmedia.eu

Tags: franks jeffrey romania

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