Caciu: The Ministry of Finance is currently involved in two analyses with the OECD

The Ministry of Finance is currently involved in conducting two analyses with the Organisation for Economic Co-operation and Development (OECD), one on the Codes on deregulating capital movements and invisible current operations and the other on the application of the principles of corporate governance of public enterprises in Romania, Minister of Finance Adrian Caciu said on Friday at the end of the meeting with the Secretary General of the OECD, Mathias Cormann, according to a ministry's release.

"I am pleased that today I received a positive opinion for adhering to the OECD recommendations on the principles of the Independent Fiscal Institutions. I am confident that in the next period we will make technical progress in this area with the Fiscal Council and the OECD. The Ministry of Finance is currently involved two analyses with the OECD, one on the Codes for deregulating capital movements and invisible current operations, and another on the application of the principles of corporate governance of public enterprises in Romania. Now we are waiting for the publication of the OECD report," Adrian Caciu was quoted as saying.

The Minister of Finance and the Secretary General of the OECD discussed the OECD Economic Survey for Romania, this being the first meeting in the roadmap negotiations for Romania's accession to the prestigious organization, Agerpres.ro informs.

According to the Ministry of Finance, the talks focused on developments in the field of public finance, such as reducing the budget deficit and maintaining dedicated fiscal support, digitizing the tax administration, efficient implementation of public investment and governance of state-owned companies.

In his speech, Adrian Caciu underlined the maintenance of Romania's commitment to return within the limits of the Stability and Growth Pact in 2024 and the gradual fiscal consolidation.

In addition, the Minister of Finance presented the measures adopted at national level, as well as those taken by the Ministry of Finance in the National Recovery and Resilience Plan, which will accelerate the continuous modernization of the tax administration, which will play a crucial role in improving tax collection.

Adrian Caciu mentioned that the Government's priority is the efficient implementation of the public investments assumed in the 2022 budget, at the level of 6.7% of GDP, the highest allocation in recent years.

The talks were also attended by Alvaro Pereira, Director, Country Studies Directorate, Department of Economics, Andreas Schaal, Director of the OECD Secretariat for Global Relations and Sherpa G7 / G20, and Abby Symes, Special Adviser to the OECD Secretary-General.

On behalf of Romania, the meeting was also attended by Luca Niculescu, Ambassador Extraordinary and Plenipotentiary to the French Republic, and Cristian Stanica, President of the National Commission for Strategy and Forecast.

The OECD Council decided on January 25, 2022 to take the first step in accession talks with Romania, in parallel with Argentina, Brazil, Bulgaria, Croatia and Peru. From now on, individual roadmaps will be prepared, which will set out the terms, conditions and accession process, provided that the respective countries confirm their adherence to the values, vision and priorities reflected in the OECD Vision Statement made on the occasion of its 60th anniversary, and in the 2021 declaration of the Ministerial Council.

Founded in 1961, the OECD plays an advisory role to the governments of countries with strong economic, social and governance policies. The 38 OECD member states together account for about 60% of the world economy, 70% of world trade and 20% of the world's population.