Press Release: Commission encourages Romania to pursue budgetary consolidation as well as reforms

The European Commission advised the government of Romania to pursue with determination the consolidation of government finances while remaining on the path of economic reforms. This two-pronged approach was deemed necessary to address the growing imbalances in the economy, while allowing Romania to continue its fast convergence towards the average income levels in the EU. This is economic and budgetary policy advice under the revised Stability and Growth Pact agreed on in 2005 by all European Union countries.