The fiscal relaxation measures included in the new Fiscal Code project should be carefully examined to understand better how Romania can reach its fiscal deficit targets, said the International Monetary Fund (IMF) representatives.

They also added the IMF is ready to discuss the proposals with the Government, reports local Mediafax.

Last week, the Government presented the new Fiscal Code project, which provides the VAT reduction from 24% to 20% before the end of 2015, as well as other tax cuts in the next four years.

The authorities informed the IMF mission, which was present in Bucharest between January 27 and February 9, about its intentions to cut the VAT and the excise duty, IMF representatives said.

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