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While there is still a risk of a further current account deficit deterioration in Romania, an economic slowdown among some of the country's main trade partners might also find Romania's current account unprepared to cope with a drop in exports, the European Commission showed in the Country Report regarding Romania, published on Wednesday.
financing needs," the EC report underscores.
On the other hand, the European Commission argues that the risks to the financial sector have decreased after the end of 2018, but regulatory uncertainty still persists. "In January 2020, the government amended the most damaging provisions of government emergency ordinance 114/2018. However, legislative uncertainty affecting the business environment, and in particular the financial sector, appears to persist and requires monitoring," the quoted document mentions.
The European Commission published on Wednesday the 27 country reports of the analysis called "2020 European Semester: Assessment of progress on structural reforms, prevention and correction of macroeconomic imbalances, and results of in-depth reviews under Regulation (EU) No.1176/2011." AGERPRES
