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President Iohannis had a meeting with a delegation of the International Monetary Fund at the Cotroceni Palace

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Romania's President Klaus Iohannis on Thursday welcomed at the Cotroceni Presidential Palace a delegation of the International Monetary Fund (IMF) led by head of the IMF mission for Romania Reza Baqir. 

The Presidential Administration reports in a press statement that the meeting was designed to unveil the main conclusion of the mission's periodic evaluation by virtue of Romania being a member state of the International Monetary Fund. 

Talks focused on the recent economic developments in Romania, with Baqir underscoring the need for sound economic policies that will consolidate Romania's economic growth of late, especially because the current tax and budget framework runs a series of risks and vulnerabilities. 

The Presidential Administration says emphasised at the meeting was the need to rethink the trend of economic policies of the past years from policies for and measures centred on strong stimulation of consumption to policies of support for investment and the production assets of Romania's economy. 

"The IMF official showed that Romania needs to improve its absorption of European funds and significantly improve its National Tax Administration's revenue collection, while also securing predictability and support for the continuation of the fight against corruption," reads the statement. 

In his turn, Iohannis mentioned the importance of an increase in confidence in Romania's economy through credible public policies, efficiency and transparency in public spending, as well as thorough a competitive business environment. 

At the end of the meeting, a wish was voiced for the continuation of the good cooperation between Romania and the International Monetary Fund so that the overall economic climate may be stable and conducive to increased prosperity, the statement says.

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