The European Commission said on Friday it has approved Romania's plan to inject an additional 1 billion euro ($1.14 billion) into its state-owned investment and development bank, Banca de Investiții și Dezvoltare (BID).
Bulgaria must take effective action against its excessive budget deficit and submit to the EU Commission the necessary measures together with its draft state budget for 2027 by October 15, the Council of the EU said.
Romania needs stability‑oriented economic policies and wide‑ranging structural reforms in order to meet the convergence criteria for eurozone entry, the European Central Bank (ECB) said.
Bulgaria's draft budget for 2026 will be in deficit of well over the 3% of gross domestic product (GDP) limit set by the Maastricht criteria, prime minister Rumen Radev said on Wednesday.
The European Commission said on Tuesday that it has disbursed 2.25 billion euro ($2.567 billion) in grants to Romania as part of the fourth payment tranche of the EU's Recovery and Resilience Facility (RRF).