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Bulgaria Need to Cut Spending Amid Excessive Deficit Procedure Risk, Labour Minister Says
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Bulgaria is to be placed on Wednesday under the excessive deficit procedure of the European Union, just a few months after joining the euro area, Prime Minister Rumen Radev said on Friday.
·Bucharest, Romania
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PSnewsBulgaria will have to cut its budgetary expenditure, under the conditions that the European Commission announced it would trigger the excessive deficit procedure on 3 June, Labour and Social Policy Minister Nataliya Efremova said.
·Romania
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A fiscal slip of 3.5% of GDP automatically attracts harsh sanctions from the European Commission. The EU executive will place Bulgaria under excessive deficit procedure...
·Romania
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Bulgaria will be sanctioned next week for violating budget rules, just a few months after joining the Zone...
·Ilfov County, Romania
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