Government spending in Romania in 2014 was around 34,9 percent of the GDP while governmental income was 33,5 of GDP.
However, it would seem that the Romanian Government is considering another IMF loan in 2016.
Romanian Minister of Finance stated, according to Mediafax, that “ the IMF is going to come to Romania in March of next year. Until then we need to implement whatever has been left unresolved in the old agreement. We will send a letter to the Fund and we will post what is still yet to be accomplished from the previous accord.”
He added that Romania wishes to take care that all criteria are met, even with regard to Governmental Ordinance (OUG) 109/2011 regarding corporate governance of public enterprises. This is basically the legal instrument through which objectivity and transparency is guaranteed in the managerial and administrative staff selection process for corporations.
At the same time though, it is reported that Romania will not issue any currency bonds this year, since it seems to be experiencing a budgetary surplus.
An interesting question to address at this point is why exactly Romania is looking to get another loan from the IMF, when it is not spending on investments.
Has it become a given that a country should borrow money from the IMF simply for the sake of doing so?