IMF could revise Romania's economic growth. New estimate: zero
April 30, 2010
Romanian Foreign Affairs minister Sebastian Vladescu said on Friday, April 29 that the VAT was not going to go up. The statement was made as the discussions with the International Monetary Fund were concluding in Bucharest. He found the negotiations “constructive”. But on the other hand, the IMF could again revise downwards Romania's 2010 economic growth, taking it from 0.8% to nought, according to the patronages reps, who also took part in the discussions. According to participants, IMF mission chief Jeffrey Franks declared that their analysis indicated a zero economic growth in Romania's best scenario. Sources close to the discussions told HotNews.ro that the issue of the rise in VAT was also raised. Asked whether he would recommend the Romanian authorities to increase the VAT, Jeffrey Franks said “Give me other options!”, UGIR-1903 president Cezar Coraci confirmed.
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