The European Commission has not yet made public its conclusions after discussions in Brussels at the beginning of the week with Romanian Government ministers
Articol de Bogdan Isopescu, 31 August 2023, 06:20
Official sources from Brussels say that the plans and measures presented by the three ministers did not convince the European Commission that they are sufficient to rectify the situation in Romania. The reform measures are not seen by the Commission as essential or in line with the commitments, including the Minister of Finance, Marcel Bolos, saying that Brussels is waiting for more.
The proposals regarding the postponement or modification of the budget deficit targets were not well received either, especially since Romania has a fragile situation from this point of view, given that it is the only member state with an infringement procedure, which is rightfully frozen in the moment of the outbreak of the pandemic. The European Commission has not communicated anything publicly in relation to the discussions with the Romanian government, nor will it do so according to the procedures that require communication strictly with the executive in Bucharest.
What we might know about the position of the European Commission, however, comes either through unofficial channels or from past recommendations and country reports, such as those of May 24. By comparison, we can see the differences between what the Commission wants and what Romania is doing.
All the problems are wrapped up under the formula, I quote: "Romania is growing fast, but with this, its vulnerabilities are also growing", I concluded the quote. In the vulnerability chapter, the budget deficit appears again, its galloping growth this year made the representatives of the Commission move to Romania specifically to understand what is happening, but the Commission's recommendations can also be seen in the World Bank's report from March 2023.
This report concerns the fiscal reforms that must be applied by Romania in order to meet the targets in the NRRP, a document also financed by the European Union.
Translated by: Radu Matei
