Romania risks suspending European funds. It is the only country that has not sent the report on reducing the deficit
Romania has not sent to the European Commission (EC) the annual progress report on reducing the budget deficit, which it had to send until April 30 as part of the implementation of the 7 -year fiscal plan, the European Commission for Profit.ro said.
Romania has the largest budget deficit in the EU
The European Commission has scheduled on June 4, an evaluation of the stage in which the Member States are in the reduction of budget deficits, and Romania risks the suspension of European funds, considering that it has not fulfilled a number of commitments, such as the fiscal reform. notes Profit.ro.
Romania had the highest budget deficit in the EU last year, of 9.3% of GDP (in ESA terms, EU standard) and has the most serious budget situation between Member States, writes News.ro.
“The annual progress reports are sent by the Member States in the context of the economic governance framework. Romania has not sent this report so far”transmitted the European Commission for Profit.ro.
The states submit this report by April 30, which provides for the progress in deficit targets and the implementation of the reforms and investments assumed by the tax plans.
The annual progress report of Romania should have explained and why Romania did not comply this year a key commitment established with the EC in the fiscal plan to reduce the deficit, namely the fiscal reform.
The president of Romania, Nicușor Dan, said on Wednesday that “the main priority during this period is the correction of the budget deficit, and the dialogue with the political parties will focus exclusively on identifying the solutions in this regard.” Elaboration of a concrete plan of measures to reduce public spending is essential and can no longer be postponed, said Dan.
