Romanian Fiscal Authorities “Blind” With Respect To Econ Development-Eurobank

International analysts have once more criticized Romania’s revenues and expenses policy. The most recent observations coming from Eurobank economists show Romanian fiscal authorities seem “blind” with respect to the country’s economic development.

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The aggressive increase of nominal interest rates, aiming to balance the expansionist fiscal policy, could cause the national currency to increase thus widening the economic gap. On the other hand, a moderate hike of the interest rate would further economy overheating, an Eurobank report reads.

The uncertainties regarding Romania’s fiscal policy makes analysts wonder what will happen with the average macro-economic stability.

Analysts draw attention regarding the 2008 fiscal policy. They say that there are high chances that Romania exceed the maximum budgetary deficit set at 2.9% of the gross domestic product stipulated for 2008 and 2009.

Analysts also added that Romania’s economic instability is caused by a hectic political life.

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