EC to warn Romania on budget deficit

Last April, when the spring economic forecasts were published, Economic and Monetary Affairs Commissioner Joaquin Almunia declared that he would carefully analyze each country with trade deficit widening approaching 3 percent. This evaluation is due on Wednesday,” said Almunia’s spokeswoman, Amelia Torres.
However, she was unable to confirm if Romania is due for a warning, and added that a decision will be made by the College of Commissioners.

Romania has been repeatedly warned by the EC and the International Monetary Fund (IMF) regarding its budget deficit. According to sources within the Finance and Economy Ministry, Wednesday’s warning will clearly highlight the fact that the Romanian authorities must change their budget vision. (NewsIn)