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EDP won’t heal CEE’s fiscal fragilities

The European Commission’s recommendation to open the Excessive Deficit Procedure (EDP) against Poland, Hungary and Slovakia for breaching the EU’s fiscal rules won’t force a drastic change in policymaking, nor will it deal with the structural factors behind their worsening public debt dynamics. We remain concerned about medium-term fiscal risks in parts of Central and Eastern Europe (CEE), with Romania looking most worrying.

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