The European Commissioner spoke about Romania’s deficit and said that „it is essential to take bold measures to correct this situation and reduce Romania’s vulnerabilities.”
He argues that the scale and nature of the measures taken „are fully in line with efforts to bring Romania back into line, but we still expect the budget deficit to be 8.3%.”
Valdis Dombrovskis said that it is important that the deficit target for 2026 be met in order to ensure the financial stability that has been achieved and to correct the excessive deficit by 2030 as planned.
„The financial markets have recognized this and are allowing Romania to remain a recommended investment target in line with market expectations. It is important for Romania to maintain access to international capital markets and ensure that it can finance its policy priorities at acceptable costs. Going forward, we must ensure that the public finance system and economic growth perform solidly, which is why continued efforts and commitment are necessary,” the European Commissioner added.
He also announced that, given the reports from the Romanian authorities and the measures taken in recent months, the Commission will determine whether Romania can meet the European fiscal requirements regarding the excessive deficit procedure by the end of November: „If the Commission’s assessment is positive, this will allow the Commission to stop the macroeconomic conditions process and avoid the suspension of European funds.”
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