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European Commission launches excessive deficit procedure on Romania for 2008

de V.O.     HotNews.ro
Miercuri, 13 mai 2009, 20:32 English | Regional Europe

The European Commission launched on Wednesday the excessive deficit procedure for Romania, the EC informed in a press release. European Commissioners have analyzed the economic context and relevant factors to see whether exceeding the 3% deficit threshold was exceptional and temporary, but came to the conclusion this was not the case.

Romania's public deficit reached 5.4% in 2008, which prompted the Commission to launch the procedure. The same measure was also decided in the case of Poland, Malta, Lithuania - two months after a similar move in the case of France, Greece, Ireland, Latvia and Spain.

Authorities in Bucharest had announced the move before the Commission made an official decision in this regard.























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