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January 26, 2023

FinMin: Budget draft for 2015, to be worked on with the IMF, early this December

The budget draft for 2015 will be worked on together with the International Monetary Fund (IMF) in the beginning of December, on a technical level, Public Finance Minister Ioana Petrescu told Radio Romania on Thursday.
‘It will be taken over by the possible new government and the possible new prime minister, very likely in January 2015 and this is because the Monetary Fund insists on coming on an official mission in January 2015, because they have the policy not to negotiate or sign letters of intent with interim governments. As we know, it is possible to have a different government and, as such, they want to come in mid-January, therefore around January 13. From the last discussions with them, the budget for 2015 will be completed together with them around that date,’ Petrescu said.
The Minister added that a budget draft would probably exist in the beginning of December, but its completion and approval, together with the IMF and the European Commission, would take place in January 2015, for these things to be approved before signing the letter of intent.
‘We are continuing the discussions with the IMF. We have kept contact with them. The last discussion we had with the IMF was in Washington, during the autumn meetings of the IMF (…) The current agreement continues, the current agreement will conclude in mid-2015 and this letter of intent is only a natural step within the current precautionary agreement with the IMF,’ the Public Finance Ministry official explained

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