This report by European Commission services assesses compliance, under the First Review, with the terms and conditions of the 2011-2013 Balance of Payments Programme.
The 2011-2013 Balance of Payments (BoP) assistance is a follow up precautionary programme to the 2009-2011 BoP programme. It was requested by the Romanian authorities in February 2011 to support the re-launch of the economic growth with a focus on structural reforms.
This report assesses compliance with the terms and conditions of the BoP Programme and summarises the findings of the joint EC/IMF mission. Updated programme documents are appended to it.
The joint EC/IMF mission concluded that the programme remains on track. After two years of negative growth, real GDP is expected to grow in 2011 by around 1½-2% above previous projections while a slight acceleration towards 1¾-2¼% is expected for 2012.
|ISBN 978-92-79-22560-4 (online)|
Occasional Papers are written by the staff of the Directorate-General for Economic and Financial Affairs, or by experts working in association with them. The Papers are intended to increase awareness of the technical work being done by staff and cover a wide spectrum of subjects. Views expressed in unofficial documents do not necessarily reflect the official views of the European Commission.