The European Commission will present its report on the economic and financial situation

The European Council will meet next week to discuss the Union's multiannual budget, as well as the €140 billion loan for Ukraine, based on Russia's frozen assets.

However, the week will begin with a European Commission conference on the autumn economic forecasts and a report on the economic and financial situation of each individual country.

For Romania, this report is basically an assessment not only of the general economic situation or the outlook for the coming months, but also of how the country has implemented measures to reduce the deficit.

It is another assessment of how the government in Bucharest is fulfilling its own commitments, given that Romania has the largest deficit in the Union.

The Commission has been sounding the alarm for years, and in the spring Romania received its final warning and the excessive budget deficit procedure was resumed.

A negative rating at this point could bring us closer to the freezing of certain funds, but the reform measures proposed and implemented by the government in Bucharest, as well as their effects, should reduce this risk, because they have also been discussed with the European Commission.

Subsequently, the European Commission's report and recommendations will be put on the table of the Council, where member states usually act in line with the European executive. However, the Romanian authorities expect a good rating, because the deficit is falling for the first time in recent years.

Translated by: Radu Matei