Economic and Fiscal Committee

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.

EC source says Greece is on track for a deal with lenders by Tuesday

Greece is on course towards its third bailout agreement with internationalcreditors on August 11. A source from the European Commission stated that an agreement by Tuesday would lead to the first installment of a bailout tranche by August 20 so that Greece can pay its dues to the European Central Bank worth 3.2 billion euros.