Romania Must Shift Focus To Performing Sectors Or Face Tax Hikes – Ctrl Bker

In the absence of either measure, the markets will have harsh reactions, said at an award ceremony at the Academy of Economic Studies in Bucharest.

He said Romania has no alternative to the EUR20 billion foreign aid package it obtained in the spring, mentioning the deal is foremost an understanding with the European Union and, subsidiarily, with the International Monetary Fund and the World Bank.

Isarescu added that the upcoming presidential elections must not affect economic stability in the country.

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„I don’t think that an election year should hurt economic stability. We have to find the right path between elections and keeping the macroeconomic and financial balance,” Isarescu said.

Romania will hold presidential elections on November 22, with a runoff on December 6.