Council Decision (EU) 2020/509 on the existence of an excessive deficit in Romania

Summary:

Decision adopted by the Council of the European Union on 3 April 2020, which states that there is an excessive deficit in Romania due to non-compliance with the deficit criterion.

Further information:

The excessive deficit procedure (EDP) under Article TFEU provides for a Decision the existence of an excessive deficit. Protocol No. 12 on the EDP sets out further provisions relating to the implementation of the excessive deficit procedures. Council Regulation (EC) No 379/2009 lays down rules and definitions for the application of those provisions.

Should the European Commission consider than an excessive deficit in a Member State exists or may occur, it shall address an opinion to the concerned country and shall inform the Council of the European Union accordingly. Having taken into account its report and having regard to the opinion of the Economic and Financial Committee, the Commission concluded that an excessive deficit existed in Romania. On 4 March 2020, the Commission addressed such an opinion to Romania and informed the Council accordingly.

The proposed Decision for the recognition of an excessive deficit in Romania was put forward by the European Commission on 4 March 2020 and adopted by the Council of the European Union on 3 April 2020.

Official

EUR-Lex: COM(2020)89: Proposal for a Council Decision on the existence of an excessive deficit in Romania https://eur-lex.europa.eu/legal-content/EN/HIS/?uri=COM:2020:89:FIN

European Commission: DG Economic and Financial Affairs: C(2020)1325: Commission Opinion on the existence of an excessive deficit in Romania (4 March 2020) https://ec.europa.eu/info/sites/info/files/economy-finance/126_5_commission_opinion_on_the_existence_c2020_1325_4_en_act_part1_v2.pdf

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News

Romania Insider, 27/02/2020: EC warns that Romania’s budget deficit could hit 6.1% next year https://www.romania-insider.com/ec-warning-ro-budget-deficit-feb-2020

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