SIMILAR ARTICLES

Romania’s GDP exceeded Portugal’s in 2018: which has a population two times lower and a GDP/inhabitant twice as high

Romania’s economy exceeded, at current prices in euros, Portugal’s economy in 2018, a country with a population and a surface two times smaller as Romania.… Mai mult

The two OUGs on judiciary for the three files are ready and submitted to Government

The Justice Ministry has prepared the two OUG drafts for which the coalition has put much pressure on the Justice Minister Tudorel Toader before granting… Mai mult

ECOFIN / Tax havens list has been updated. Politico: Eugen Teodorovici took EU Finance Ministers by surprise

Finance Ministers of the EU voted on Tuesday at the third meeting of the Council for Economic and Financial Affairs (ECOFIN) chaired by Romania, the… Mai mult

March 15, 15:00, for 15 minutes: Romania really wants highways!

Dozens of companies, mayoralties, sports teams, public figures, organizations and many ordinary people joined the protest “Romania wants motorways”. Of course, the country did not… Mai mult

Facebook has removed 30 pages and PSD propaganda accounts in Romania

Facebook announced Thursday that it has closed hundreds of false accounts promoting false content in the UK and in Romania and this is the first… Mai mult

Cronicile

European Semester / European Commission asks Romania to correct its medium-term structural deficit by 1% of GDP

de Victor Bratu , 27.11.2018

Minister Eugen Teodorovici is pressured by the EU to reduce the budget deficit

After finding that the Government has done nothing to adjust the deviation from the structural budget deficit, the European Commission now asks Romania for an annual structural adjustment of at least 1% of GDP in 2019.

The revised recommendation appears in the context in which the budget deficit estimate goes up to 4.7% of GDP for 2020.

The European Commission released on Wednesday the autumn package of the European Semester in which it presented the EU’s economic and social priorities for 2019 and the opinions on the budget plans.

In Romania’s case, the Commission has established:

“No effective action has been taken in response to the recommendation made by the Council in June and proposes that the Council adopts a revised recommendation addressed to Romania for the country to correct its significant deviation from the adjustment path targeting the medium-term budgetary objective.

In June 2018, the Council addressed a recommendation to Romania regarding an annual structural adjustment of 0.8% of GDP for both 2018 and 2019 under the procedure applied for significant deviations.

In the light of later developments and the fact that Romania has not taken effective steps to correct its significant deviation, the Commission is now proposing a revised recommendation regarding an annual structural adjustment of at least 1% of GDP in 2019.

Romania’s public deficit increased from -0.5% in 2015 to -2.9% in 2016 and is estimated to reach -3.3% in 2018, -3.4% in 2019 and -4, 7% in 2020: this deficit level is the highest in the EU.

The Commission invites the European Council to discuss the package and approve the directions presented on Wednesday.

The Commission also announces that it “looks forward to a fruitful debate with the European Parliament on the policy priorities of the Eurozone and the EU overall, as well as an increased collaboration with the social partners and stakeholders at all levels in the context of the European Semester.”

Mergeți în homepage ›

Publicat la data de 27.11.2018

Lăsați un comentariu


NEWS

Romania's GDP exceeded Portugal’s in 2018: which has a population two times lower and a GDP/inhabitant twice as high

Romania's economy exceeded, at current prices in euros, Portugal's economy in 2018, a country with a population and a surface two times smaller as Romania.… Mai mult

The two OUGs on judiciary for the three files are ready and submitted to Government

The Justice Ministry has prepared the two OUG drafts for which the coalition has put much pressure on the Justice Minister Tudorel Toader before granting… Mai mult

ECOFIN / Tax havens list has been updated. Politico: Eugen Teodorovici took EU Finance Ministers by surprise

Finance Ministers of the EU voted on Tuesday at the third meeting of the Council for Economic and Financial Affairs (ECOFIN) chaired by Romania, the… Mai mult

March 15, 15:00, for 15 minutes: Romania really wants highways!

Dozens of companies, mayoralties, sports teams, public figures, organizations and many ordinary people joined the protest "Romania wants motorways". Of course, the country did not… Mai mult

Facebook has removed 30 pages and PSD propaganda accounts in Romania

Facebook announced Thursday that it has closed hundreds of false accounts promoting false content in the UK and in Romania and this is the first… Mai mult

Laura Kovesi, indicted in a second case opened by Magistrates' Investigation Section

Laura Codruta Kovesi was indicted on Thursday in a second case. The section for investigating the crimes committed by magistrates accused her of having led… Mai mult

Gold reserve was still untouched: Populist diversion or another act against the BNR’s independence

The draft law on the so-called repatriation of Romania's gold reserve is either a populist diversion or another attempt to remove gold from the administration… Mai mult

Magistrates’ protest, extended to 80 courts and prosecutors' offices. List of requests

The protest of magistrates from Cluj Napoca. More than 200 prosecutors and judges, with white bands on their arm, came in front of the local… Mai mult

Laws on judiciary, amended again by OUG: judges who were once prosecutors may be appointed as prosecutors

The Government approved on Tuesday an OUG that was not publicly debated, which amends several provisions from laws on the judiciary that refer to prosecutors… Mai mult

"Iceberg" operation: ANAF announces that it selected 487 companies which are to be audited based on risk analysis

Virgil Pirvulescu, Vice President of ANAF at PwC Annual Tax Conference The National Agency for Tax Administration (ANAF) has identified 487 large and medium-sized companies… Mai mult

Commissioner Corina Cretu: There is a risk that Magurele Laser will not be completed during this budget implementation

In the absence of a rapid response from the Romanian Government to the European Commission, there is a risk that Magurele Laser can no longer… Mai mult

Romania joins countries that recognize Juan Guaidó as interim president of Venezuela

The Presidential Administration announced on Friday that President Klaus Iohannis, "as the head of Romania’s foreign policy decisions and Romania's representative at the external level,… Mai mult

AmCham Romania: Counterproductive public policies have reched an alarming level

Further to the message on the impact of OUG 114/2018 transmitted on Thursday to the organizations in the Coalition for Development of Romania (CDR), AmCham… Mai mult

Finance minister stopped borrowing money from the market. Teodorovici: We have funding resources for minimum six months

Minister of Public Finance (MFP), Eugen Orlando Teodorovici, has ordered to stop borrowing operations on the market because MFF would have all the money needed… Mai mult

BNR: If we sold foreign currency to defend Romanian leu, as PSD wants, interest rates would explode and ROBOR would go over 5-7 percentage points

The National Bank of Romania wants a "loyal cooperation" with the Ministry of Public Finance, and that involves a prior consultation with the central bank… Mai mult