Romania remains committed to continuing the implementation of measures aimed at ensuring a sustainable economic recovery, Prime Minister Ilie Bolojan said on Tuesday, noting that the Government is targeting a budget deficit of around 6% for next year.
Ilie Bolojan met at Victoria Palace of Government with Valdis Dombrovskis, European Commissioner for Economy and Productivity, as well as for Implementation and Simplification, who is paying an official visit to Bucharest.
"Our dialogue today follows on from our regular contacts in recent months, particularly in the context of the Government's efforts to stabilise Romania's fiscal and budgetary situation. (...) We discussed in detail the measures taken in recent months and plans for the period ahead. I assured Commissioner Dombrovskis that we remain committed to continuing the implementation of measures to ensure a sustainable economic recovery," Bolojan said during joint press statements after the meeting.
The prime minister reiterated the Government's commitment to a budget deficit target of 8.4% for this year.
"If we maintain proper budgetary control and financial discipline over the next two months, we aim to meet this target in order to regain credibility both with the markets and with the European Commission," Bolojan added.
He said November and December would be decisive months for preparing next year's budget.
"In December, we should have the draft budget law ready, which will include the deficit target and the main elements for next year, while in November it is necessary to adopt a package of measures that, once included in the budget law, will ensure stabilising effects throughout the following year. Therefore, we plan to introduce measures in November to further reduce expenditure, increase revenue collection, and prioritise and phase investment projects under national budgets, in order to strike a balance in the 2026 national budget," the prime minister explained.
He recalled that November would also bring several key European Commission events concerning Romania, including an ECOFIN Council meeting in the first half of the month, which will assess progress in managing the excessive deficit. "We are counting on the Commission to recognise and support the measures already taken," Bolojan said.
Another key topic is the National Recovery and Resilience Plan (NRRP), which, once approved by the ECOFIN Council, will allow Romania to submit payment requests by the end of the year and access EU grants to sustain investments and maintain financial stability, the Prime Minister added.
"The deficit target we set for next year should be close to 6%. The measures to be adopted in November in preparation for the budget will be decisive, and the Government aims to adopt them in a way that maintains Romania's market access and economic stability, with results to become visible in the second half of the year," the premier clarified.
He thanked Commissioner Dombrovskis for the European Commission's support in finalising the NRRP revision.
"This revised version will allow us to continue major ongoing investments in infrastructure, hospital construction, and school rehabilitation. We stressed Romania's strong interest in efficiently accessing recovery funds. By August next year, we have around 10 billion euros to spend the foundation of Romania's investment programme for 2026. We will therefore focus on works and meeting milestones to ensure the absorption of EU funds," Prime Minister Ilie Bolojan concluded.
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