The European Commission hopes to finish by the end of January the second evaluation of the financial agreement signed with Romania, which enforces the 1 billion euro installment for Romania, a EC press release reads. This position comes after a common EC and IMF delegation came in Bucharest on December 14-16 to continue talks regarding the multilateral assistance program.
The mission acknowledged real progresses in terms of accomplishing the budgetary deficit set of 7.3% of GDP in 2009. However, a strict control of budget spending is necessary, the press release reads.
For 2010 EC and IMF representatives, together with Romanian authorities convened a set of measures for fiscal consolidation. Considering the macro-economic estimates for 2010, they are better than the initial forecasts. The new government will be encouraged to approve the budget and send it to the Parliament for validation.