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IMF appreciates Romania agriculture contribution to economic growth

07. November 2011. | 07:20

Source: Agerpres

The International Monetary Fund (IMF) delegation appreciates the significant contribution that agriculture has had to the growth of the national economy this year and particularly to increased exports and to balancing Romania's commercial balance, the Ministry of Agriculture and Rural Development said in a release.

The International Monetary Fund (IMF) delegation appreciates the significant contribution that agriculture has had to the growth of the national economy this year and particularly to increased exports and to balancing Romania's commercial balance, the Ministry of Agriculture and Rural Development said in a release.

During a meeting of the IMF visiting delegation and Minister Valeriu Tabara at the ministry's headquarters, the Romanian official presented the current situation of the country's farming sector, including the forms of support granted it, given that certain state budget support is required so as to complete what the European Union gives this sector, the release said.

The two sides discussed the National Rural Development Programme, the absorption rate of the European funds aimed at the rural area and the relation with the banking system.

According to the IMF, any support given the agricultural sector will foster the Romanian economic development, because as long as the farmers' incomes rise, their purchasing power and consequently consumption will also rise.

The IMF officials raised the issue of the Romanian land survey situation and the ways by which Bucharest may increase the EU funds absorption rate, the ministry announced.

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