Strategy

UPDATE/EC: Romania doesn't comply with deficit criterion and launch of excessive deficit procedure is warranted

The fiscal budgetary strategy for 2020-2022, adopted by the Government on 10 December 2019 and sent to Parliament, stipulates a deficit target of 3.8 percent of the GDP in 2019, a figure which, according to the European Commission, provides prima facie evidence of the existence of an excessive deficit in Romania, according to a report adopted by the European Commission on Friday.