The European Commission will on Wednesday assess Romania's progress in reducing its budget deficit, which is the highest in the EU at 9.3% of GDP

The European Commission will announce on Wednesday its assessments of member states' budget deficits, including Romania, which has the biggest deficit in the EU. Romania has pledged to reduce the deficit to 7% in 2023 and 3% by 2030, but progress has been poor. The necessary tax reform has also not been proposed, which could lead to the suspension of EU funds. The assessment will influence international investors and rating agencies, with Romania at risk of being labeled junk.