Friday, November 6, 2009

IMF flexible on how Romania draws up budget-paper

BUCHAREST, Nov 5 (Reuters) - The International Monetary Fund will show flexibility on how Romania draws up its 2010 budget but will stick to the goal of a 5.9 percent of GDP fiscal gap, mission chief Jeffrey Franks was quoted as saying on Thursday.

"The Romanian government is choosing the way to attain this target. Either it will hike taxes, or will chose another method. It all depends on it how it will reach the goal," Franks was quoted as saying by Business Standard daily.
Franks, part of an ongoing IMF mission reviewing Romania's progress under a 20 billion euro international aid package, said the Washington-based lender did not intend to change next year's budget goal of 5.9 percent.

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