Romania ready to submit third EU recovery funds payment request by Dec. 15-PM

Romania's coalition government will be ready to ask the European Commission for a third tranche of recovery funds by Dec. 15, Prime Minister Marcel Ciolacu said on Monday.

Romania has so far received roughly 9 billion euros ($9.68 billion) out of a total package of 28.5 billion euros worth of grants and loans until 2026 under the EU's Recovery and Resilience Facility (RRF).

The payments are conditioned by a series of reforms, including changes to the state pension system, and Romania's progress has slowed this year. Ciolacu also reiterated the government will target a budget deficit below 5% of gross domestic product in 2024. ($1 = 0.9293 euros)

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