4. Notes with satisfaction that the proce
ss begun in 1997 to transform the economy and its structures has brought about a substantial improvement in economic performance and the establishment of a functioning market economy thanks to important structural changes; considers, however, that further consolidation of macroeconomic stability is required if Romania is to be able to cope with competitive
pressure and market forces within the Union; calls on the Roma
nian authorities to continue ...[+++] their efforts to curb the budget deficit, if the country wants to meet its targets for inflation and for a reduction in the current-account deficit, and encourages them to press ahead with the process of privatisation and restructuring,
particularly in the steel sector;