EU chides Bulgaria, Romania, Latvia over budget policies - by Todor Roussanov
Тhe European Union's monetary chief on Wednesday chided Romania, Bulgaria and Latvia for their budgetary plans Wednesday, but praised Belgium and Spain for their sound fiscal policies. EU Economic and Monetary Affairs Commissioner Joaquin Almunia said he was "concerned" over a loosening of fiscal policies this year in Romania, Bulgaria and Latvia, at a time of better economic growth. "Stability-oriented fiscal policies are key for sustainable economic development," Almunia said. ,LP.Even though he lauded Spain and Belgium for their 2007 budgetary plans, Almunia did warn them to stick to fiscal rigor to deal with the financial impact of their aging societies in the decades to come.
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