Press Release: Commission assesses convergence programmes of Romania and Slovakia

Having examined the updated convergence programme[1] of Slovakia, the European Commission found that its planned budgetary consolidation is consistent with a correction of the excessive deficit in 2007. But it should speed up consolidation thereafter so as to create a safe budgetary margin more quickly and to counter any possible inflationary pressures. Romania's convergence programme projects a continuation of high deficits despite strong growth. This creates the risk of an excessive deficit and is not in line with prudent fiscal policy.