10/12/2014 (Agence Europe) - Agreement on 2015 deficit reduction target. On Tuesday 9 December, the Romanian government and representatives of the European Commission and the IMF reached agreement on the Romanian deficit reduction target for 2015, which has been set at 1.83% of GDP in nominal terms. This is described as being coherent with the target of a 1% structural deficit (not including cyclical effects) and will accommodate a faster absorption of EU Structural Funds, explains the Commission in a press release. A new joint monitoring mission to assess the Romanian structural adjustment programme under the EU's balance of payments aid will take place in January 2015. (MB)