MNI BRIEF: EU Ups Excess Deficit Action Vs Romania, Belgium

European Union finance ministers are stepping up the EU excessive deficit procedure against Romania and have also told Belgium to eliminate its excessive budget deficit by 2029. 

The ministers warned Romania that it has not taken effective action to implement their previous recommendations and note that its net expenditure has grown much faster than recommended, leading to a persistently high deficit.  

Belgium was told by the ministers that it must end its excessive deficit by 2029, and limit its 2025 spending growth to 3.6%, 2.5% in 2026 and 2027 and to 2.1% in 2028 and 2029.