01793cas a2200241 a 4500 AALejournalIMF017673 230101c9999 xx r poo 0 0eng d 5.00 USD 9781484301579 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. European Dept. Romania : 2017 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Romania. Washington, D.C. : International Monetary Fund, 2017. 1 online resource (80 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This 2017 Article IV Consultation highlights Romania's strong economic growth in 2016, resulting in a closed output gap. Private consumption was boosted by an expansionary and procyclical fiscal policy and wage increases. The cyclically adjusted budget deficit grew by 1.5 percent of GDP in 2016, reflecting large tax rate cuts and wage increases. Headline inflation remained subdued owing to indirect tax cuts, administrative price adjustments, and low euro area inflation and oil prices. There has been welcome progress in reducing banking sector nonperforming loans. Growth is expected to reach 4.2 percent in 2017 and to moderate to 3.5 percent in the medium term. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2017/133 Full text available on IMF http://elibrary.imf.org/view/journals/002/2017/133/002.2017.issue-133-en.xml IMF e-Library