The Energy Sector Reform and Macroeconomic Adjustment in a Transition Economy: The Case of Romania

Business & Finance, Economics, Money & Monetary Policy, International Economics, Nonfiction, Social & Cultural Studies, Political Science, Politics, Economic Policy
Cover of the book The Energy Sector Reform and Macroeconomic Adjustment in a Transition Economy: The Case of Romania by Stéphane Mr. Cossé, INTERNATIONAL MONETARY FUND
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Author: Stéphane Mr. Cossé ISBN: 9781455249794
Publisher: INTERNATIONAL MONETARY FUND Publication: April 1, 2003
Imprint: INTERNATIONAL MONETARY FUND Language: English
Author: Stéphane Mr. Cossé
ISBN: 9781455249794
Publisher: INTERNATIONAL MONETARY FUND
Publication: April 1, 2003
Imprint: INTERNATIONAL MONETARY FUND
Language: English
This 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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This 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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