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Romania's biggest issue is the budget deficit on which it has a target of 68 of GDP in 2010 In order to meet this target the government took a set of austerity mea32011 SEER Journal for Labour and Social Affairs in Eastern Europe p 321 – 345 321
Iron ore spot prices reached a low at the end of December 2015 of 3850 per tonne In the second half of 2016 coking coal prices rose sharply and suddenly largely driven by a sharp drop in Chinese domestic coking coal production as well as maintenance and operational production issues in Australian coking coal mines during the period
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As in other European countries Spain or Italy the incentive scheme raised sufficient concern Arcelor Mittal took into consideration closure of business in Romania and Europe due to high energy prices so as to be reassessed and modified following major complaints about increase in electricity pricing determined by the green certificates
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