Romania will be able to access up to 10% of the total undrawn amount of IBRD loans in the event of a crisis/disaster, according to an amendment signed with the World Bank, Finance minister Marcel Bolos announced on his Facebook page after meeting with Antonella Bassani, World Bank Vice-President for Europe and Central Asia.

Bolos and Bassani discussed progress and priorities in terms of structural reforms, tax system reform and strategic investment projects implemented by Romania, and Bolos stressed the importance of improving the tax revenue structure and eliminating distortions and loopholes in the current system.

„From the perspective of budget revenues, we are convinced that the reform of the National Agency for Tax Administration (ANAF), through digitisation, is extremely important and we are confident that this process, which is underway, will achieve its objectives, namely more efficient revenue collection. The digital transformation and the improvement of ANAF’s internal processes are the starting point, following the need to strengthen tax compliance and tax collection. We are aware that balancing the budget requires joint efforts, on the one hand in the area of fiscal policy, in the area of strengthening the revenue collection capacity, financial support to the business environment, and on the other hand in the area of public spending,” said minister Marcel Bolos, according to a press release from the institution.

Romania’s current IBRD loan portfolio includes 13 sectoral investment loans worth 1.2 billion EUR.

AGERPRES