Romania’s enforcement of the new Fiscal Code will lead to an economic growth of 4.1% in 2016.

It will also bring negative inflation between June 2015 and June 2016 and will raise concerns about the deteriorating balance of payments, said Ciprian Dascalu, chief economist with ING Bank, cited by local Economica.net.

The economy will rebalance in 2017, the same year when the inflation will return to the Romanian National Bank (BNR) target, he added.

The measures will also produce a delay in joining the eurozone, even if they were meant to accelerate the integration.

Dascalu believes that the main objective of promoting the new Fiscal Code is to win votes and strengthen the political coalition in the country.

editor@romania-insider.com