





European Commission to launch excessive deficit procedures against Romania
"It s a serious signal concerning the lack of confidence in the Government in office, mainly due to the repeatedly offering of inconsistent economic data to the European Commission. From now on, it is only a matter of European procedures, which take time", the HotNews.ro sources said.
The EC may launch the excessive deficit procedure in case the budget deficit is above 3%. At the middle of January, Finance Minister Gheorghe Pogea said that the 2008 deficit was 5.2%, while the target set for this year is 2.7% of the GDP.