The Romanian Government will need to amend the current Tax Code draft, which is currently debated in the Parliament, said Guillermo Tolosa, representative of the International Monetary Fund in Romania.

Otherwise, the Government will fail to reach the deficit targets agreed with the international financial institutions for 2016.

“Cutting expenditures to compensate for these measures won’t be enough. We believe that the Government will reach its targets for this year, but for the next year it’s a lot of work to achieve its goals,” Tolosa said, reports local Agerpres.

The talks between the IMF mission and the Romanian Government at the end of May went well, but the IMF still awaits Romania’s decisions which will help it respect its targets, the IMF representative said.

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