Our major concern is for Romania to continue economic growth trend (Finance Minister Petrescu)

Photo credit: (c) Lucian TUDOSE / AGERPRES PHOTO

The authorities' major concern for the next time horizon is for Romania to continue its economic growth trend and the implementation of structural reforms, Minister of Public Finance Ioana Petrescu declared on Friday after the World Bank Group's Board of Directors approved a development policy loan (DPL) worth 750 million euros for Romania.

"We welcome the World Bank's decision to support this goal, including through the new country partnership the goals of which also reflect in our desire to provide predictability to the business sector and streamline the public sector. Over time, Romania has developed a strong partnership with the World Bank, which allowed interventions in various sectors of the economy and our hope for the future is that [this institution] contributes to the implementation of a package of structural reforms, including in the field of public finances. I know that the business environment expects measures proving that we understand the tax system as a lever for growth and economic development, not just an instrument of funneling revenues to the budget. The tax policies I will apply will result in a more efficient, predictable and transparent tax system," said the Minister of Public Finance.

On May 22, 2014 the World Bank Board of Directors approved the Country Partnership Strategy for Romania for the period 2014-2017 and the first development policy loan, of 750 million euros, under this strategy.

Through the new partnership strategy, the World Bank, acting as a partner, aims to assist Romania fulfill the objectives of its long-term development in accordance with the Governing Program, the Convergence Program and the National Reform Program, as well develop its capacity to address institutional and social...

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