UPDATE 1-Romania central bank, EC warn against fiscal slippages

April 20, 2015 12:26 PM

54 0

BUCHAREST, April 20 (Reuters) - Romania's central bank and the European Commission said on Monday the EU state should not put recent economic gains at risk by allowing the fiscal deficit to swell again.

The warnings echo those made by the International Monetary Fund and Romania's fiscal watchdog over a plan for sweeping tax cuts, including a big reduction in value added tax, that Prime Minister Victor Ponta wants to roll out between June and 2019.

Also read: Economy: Jobless claims drop to lowest since 1973; housing starts jump 11%

Read more

To category page