IMF estimates a comedown of Romania's fiscal situation in 2010, official says

Franks declared IMF is analyzing several possibilities to hike budget revenues, but mentioned the government should not hurry and boost taxes.

He said the information that showed up in the media on hiking the flat tax and the VAT is not correct.

On the other hand, Jeffrey Franks also said the Fund expects the fiscal situation in Romania to get worse by the end of the year and that is very important to find the best solutions to avoid creating unbalances larger than those that already exist.

The IMF official refused to talk about Romania's budget deficit estimated in the past period at 7 percent of the gross domestic product (GDP) at year-end, as the Finance Minister Sebastian Vladescu declared discussions are still held from the perspective of a 5.9 percent gap.

The mission's conclusions to solve the fiscal situation will be announced on Thursday the latest, according to Franks.