Romania Gets EU Nod for Higher Deficit Amid Budget Struggles

Romania secured initial European Union backing for a wider budget deficit goal of 8.4% of economic output this year, buying time for tough austerity measures that will deliver their full impact in 2026.

Prime Minister Ilie Bolojan confirmed a report by Bloomberg that the European Commission, the EU’s executive arm, gave its approval in principle for the new target after fiscal measures were delayed by political upheaval this year.