EU Commission launches macroeconomic imbalance procedure on Romania

The surveillance package is aimed at countries such as: Belgium, Bulgaria, Croatia, Finland, France, Germany, Hungary, Ireland, Italy, Portugal, Slovenia, Spain, Sweden, the Netherlands, and the United Kingdom and follows the adoption of the Annual Growth Survey last November and sets out the analytical basis for the adoption of Country-Specific Recommendations (CSRs) in May. 

“Romania is experiencing macroeconomic imbalances, which require policy action and monitoring. In the three consecutive EU-IMF programmes, external and internal imbalances have been significantly reduced. However, risks from the relatively large negative net international investment position and a weak medium-term export capacity deserve attention. Moreover financial sector stability has been preserved so far, but external and internal vulnerabilities of the banking sector remain,” is explained in a release of the Commission. 

The EU institution recommends the concerned Member States to pursue their efforts towards reform programmes and the reduction of deficits and debts. 

In March, the Commission will organize another round of bilateral meetings with the Member States during which the Country Reports will be discussed.  By mid-April, the Member States are expected to present their National Reform Programmes and their Stability or Convergence Programmes.