Romanian Premier Vows Deeper Spending Cuts to Avoid Default Risk
The Romanian Prime Minister has vowed to implement deeper spending cuts to avoid the risk of the country defaulting. The newly appointed prime minister has acknowledged that years of excessive government spending have put the country in a precarious financial position. To address this issue, the government plans to implement austerity measures and significantly reduce its expenditure. The prime minister has emphasized the urgent need for these actions to prevent Romania from defaulting on its financial obligations. The announcement comes as the country grapples with the economic challenges posed by the COVID-19 pandemic, which has further exacerbated the country's fiscal woes. The prime minister has expressed a commitment to stabilizing the Romanian economy and ensuring its long-term financial sustainability through these necessary spending cuts.
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