The European Commission has recommended Romania to take all the necessary measures to complete the financial assistance program.

In October 2013, the European Union and the International Monetary Fund agreed on a precautionary financial aid program for Romania. They have each offered Romania EUR 2 billion by the end of September 2015. However, Romania needs to implement certain economic policies to receive the assistance.

The European Commission has also recommended the country to keep the deviation from the medium-term fiscal target in 2015 at maximum 0.25% of GDP.

Among the set of four measures for Romania, the EC also included strengthening the provision of labour market measures, in particular for unregistered young people and the long-term unemployed.

It also recommended that Romania adopt the law on reforming corporate governance of state-owned enterprises.

editor@romania-insider.com