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IMF backs Romania deficit relax plan

The International Monetary Fund on Friday said it supported Romania’s proposal to relax the 2010 deficit target. In its annual review of Romania’s economy, the IMF applauded Romania’s efforts this year to put its fiscal house in order under an IMF-supported bailout package, forecasting a pickup in growth to 3.5% in 2011. An IMF mission is to visit Romania between July 26 and Aug. 4 to assess the country’s performance under the €20 billion bailout. Finance Minister Sebastian Vladescu said on Friday the authorities will stick to a previously agreed budget deficit target for 2010 in the talks.