Romania needs economic recovery measures, as the country's economy contracted by 0.2% in the third quarter compared with the previous one, signalling a risk of a technical recession, Chairman of the Social Democratic Party (PSD) Sorin Grindeanu said on Wednesday at the end of the party's National Standing Bureau meeting.
"The main point discussed was the Government's commitment to the third package, which should include local and central public administration measures as well as economic recovery initiatives. My colleagues responsible for the recovery measures, including this morning, held discussions at the Ministry of Finance with ministry representatives to present the full package. I understand that the discussions went very well and that what was initially believed to have a multi-billion impact on the state budget is false. These claims do not exist; they are all false. I believe my colleagues were well-argued, and I understand that our measures are sound and will form part of the proposals," Grindeanu told a press conference.
He presented several macroeconomic indicators showing that Romania faces, among other challenges, a risk of technical recession.
"The average wage, which reflects the population's purchasing power, fell by 5.3% in September 2025 compared with the same month last year. In the third quarter, Romania's economy contracted by 0.2% compared to the second quarter, meaning we are at risk of a technical recession. Other data, such as retail turnover, are also in negative territory. Turnover in the HORECA sector fell by nearly 8% compared with August-September 2024, industrial production declined in the first nine months compared with the same period in 2024, and inflation is close to 10%. It is therefore clear that these economic recovery measures are needed. As it happens, they are also part of the fiscal-budgetary strategy, and attention has been drawn to colleagues at the Ministry of Finance, who were not fully updated on Romania's strategy, that the PSD proposals are part of this strategy adopted some time ago," the PSD leader explained.
Comentează