Why ecofin Is Trending Today?

ECOFIN urges Romania to tighten fiscal policy, reduce deficit to 15% of GDP by 2025, and implement austerity measures by October 15, 2025.

ECOFIN, the Council of Economic and Financial Affairs, has made several decisions and assessments regarding Romania and Bulgaria. For Romania, ECOFIN has not recommended cutting European funds, instead proposing a net spending increase of 2.8% this year and exiting the excessive deficit procedure by 2030. Romania's Minister of Finance, Alexandru Nazare, attended the ECOFIN meeting, highlighting the new government's commitment to fiscal discipline and presenting measures to stabilize state finances and reduce the budget deficit. ECOFIN will decide if Romania's measures are efficient, with potential consequences for cohesion funds, PNRR funds, and the country's rating. For Bulgaria, ECOFIN has set the exchange rate for its entry into the eurozone on January 1, 2026.