Romanian Finance Minister asks EC to reevaluate medium-term budget targets

Finance Minister Darius Valcov on Wednesday, January 28, asked the Parliament’s Finance Commission to meet next week and discuss the Medium-Term Budgetary Objective’s (MTO) schedule. On Tuesday, January 27, he requested the Economic and Financial Affairs Council (Ecofin) to reevaluate the MTO for four years, reports local Mediafax. Valcov also asked the European Commission to start talks with the EU Member States to reevaluate the MTO schedule. A reevaluation would increase the investment allocations in Romania over the next four years, Valcov said. The MTO is an European Union instrument that ensures countries stay within the Treaty's limit: 3% of GDP for the general deficit and 60% of GDP for gross debt. editor@romania-insider.com