





EC criticizes Romania budgetary policy, recommends public spending control
"Romania's growing deficit and its volatility represent a serious problem. Romania needs more ambitious budgetary targets, so it would not come against the regulations within the Pact for Stability and Growth and also to limit the foreign deficit growth and inflation pressures", said Almunia after the Commission evaluated Romania's updated convergency program.
The 2008 Budget Law includes a 2.7% deficit limit. The Pact for Stability imposes a maximum of 3% in all EU member states. The Commission has instruments to use against states with higher deficit rates, considered as excessive.