Romanian PM promises to publish fiscal corrective measures this week

Romanian prime minister Marcel Ciolacu announced on September 11 that the fiscal corrective measures would be published on the government's website this week for public debate, Bursa.ro reported.

The measures will be prompted in Parliament under a quick procedure that, in principle, could result in the overthrow of the cabinet if the majority of MPs reject the executive's bill (an unlikely scenario given the ruling coalition's robust majority).

The government announced that the public deficit heads towards 6.84% of GDP unless corrective measures are taken. However, it is unclear whether the measures can be enforced before the end of the year.

The government still hopes to keep the public deficit at 5.5% of GDP, just 1pp above the initial target.

(Photo source: Gov.ro)