The Energy Sector Reform and Macroeconomic Adjustment in a Transition Economy: The Case of Romania
AbstractThis paper assesses the main issues faced by the energy sector in a transition economy such as Romania and their macroeconomic dimension. It examines how the size of quasi-fiscal subsidies, owing mainly to inappropriate prices and the lack of financial discipline, has led to an increased focus on the energy sector under the IMF-supported programs. The paper analyzes the macroeconomic impact of recent reform measures and discusses the next steps to improve price policy and collection in energy utilities. Shifting to targeted budgetary subsidies appears also to be a crucial reform step.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Policy Discussion Papers with number 03/2.
Date of creation: 01 Apr 2003
Date of revision:
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Postal: International Monetary Fund, Washington, DC USA
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Web page: http://www.imf.org/external/pubind.htm
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