Post-Programme Surveillance Report. Romania, Spring 2016

European Economy Institutional Papers are important reports and communications from the European Commission to the Council of the European Union and the European Parliament on the economy and economic developments.

A European Commission team was in Bucharest from 23-26 May 2016 for the first post-programme surveillance mission. Post-programme surveillance (PPS) started in October 2015. Its main objective was to assess Romania's capacity to repay the loans granted under the first balance of payments (BoP) financial assistance programme (2009-2011) and, if necessary, to recommend corrective actions. A second (2011-2013) and third (2013-2015) BoP programmes were treated as precautionary and no disbursements were made. The overall assessment of economic and fiscal conditions, including debt level and government financing performance suggest that risks related to government financing and the repayment of the debt to the EU are very low. The second post-programme surveillance mission to Romania is foreseen in late autumn 2016, depending on the electoral calendar.