On Tuesday, March 13, the National Institute of Statistics (INS) released the report on February's evolution of consumer prices. According to INS' data, the inflation rate reached 4.7% in February. INS also showed that trade deficit rose by EUR 170 million in January, to EUR 775 million, and that the net average wage dropped by RON 145 in January.
The topic of February's inflation rate was also addressed by MPs, with Chair of Chamber of Deputies' Committee for Budget, Marius Budăi (PSD), pointing at Central Bank Governor Mugur Isărescu. According to Budăi, the fact that BNR presented their outlook on inflation does nothing more than push prices up. ALDE's Călin Popescu Tăriceanu said he is “certain that wage raises have nothing to do with an inflationist spike.”
Following last week’s visit, the International Monetary Fund recommends Romania a combination of fiscal moderation and monetary tightening, as the best course of action. During their visit, the IMF delegation met with PM Dăncilă, Chamber of Deputies’ Committee for budget, and PNL president Ludovic Orban.
IMF see an economic growth of 5% in 2018, and also warn that the deficit target is at risk.
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