Report on the enhanced surveillance mission in Romania of 10-11 April 2018

As a consequence of the significant deviation from its medium-term budgetary objective in 2016, a Significant Deviation Procedure (SDP) was launched for Romania in spring 2017. In its SDP recommendation of 16 June 2017, the Council asked Romania to take measures to ensure that the nominal growth rate of net primary government expenditure does not exceed 3.3% in 2017. As a consequence of no effective action taken by Romania, the Council issued a revised SDP recommendation in December 2017.

The enhanced surveillance mission by the Commission took place on 10-11 April 2018. The mission met the Minister of Finance, the governor of the National Bank of Romania, and members of the Fiscal Council of Romania. The aim of the mission was to learn in detail about the fiscal actions planned by the authorities, to increase the visibility of the fiscal risks and to encourage compliance with the Stability and Growth Pact.

This report on the enhanced surveillance mission is submitted to the Council pursuant to Regulation (EC) No 1466/97 on the strengthening of the surveillance of budgetary positions and the surveillance and coordination of economic policies. The provisional findings of the mission have been previously transmitted to the Romanian authorities for comments.