IMF criticizes local fiscal institutions

According to the IMF, Romania lacks medium-term fiscal programs, while independent expertise and advisory operations are limited, compared to other EU member countries.

IMF analysts warn that Romania must consolidate its fiscal institutions and advised authorities to improve tax policy transparency, limit budget revisions, peg the fiscal policy to a medium-term strategy, and develop independent advisory activities on budget issues.
However, the report states that Romania managed to reinstate fiscal discipline, and consolidate public finance management in certain areas since 2000.
Economic analyst Gabriel Biris told Business Standard that the quality of Romania’s fiscal policies is poor and training of ax inspectors is low. “The problem begins with a lack of political will, as nothing is done at the legislative level,” Biris added.