Romania: Finance Minister believes no IMF assistance will be needed this year

Romania: Finance Minister believes no IMF assistance will be needed this year

Romania’s finance minister Florin Cîțu is proposing a 10% increase in pensions starting in the autumn, so that, as he said, sufficient funds will be secured for investment. He also stated that there would be an increase in benefits, but only when the economic crisis allowed it.

Last night, Florin Cîțu said there would be no second quarter in Romania during which growth would record a downward tendency (technical downturn), adding that the economy could shrink by 2% year on year, noting that April had been the worst month of the pandemic.

Romania’s finance minister estimates that in the Eurozone the budget deficit will be 13%, while in Romania it will be 6.7% of GDP. He stated inflation was almost 2%, while the country will record a V-shaped recovery and will not need IMF assistance this year. /ibna