In Paris to attend a meeting of the Ministerial Council of the Organisation for Economic Cooperation and Development, Romania\u2019s interim foreign minister Oana \u021aoiu highlighted the importance granted by Romania to the process of accession to the OECD, which she described as an important country objective that will allow us to join the club of developed economies. As part of the accession talks launched in 2022, Bucharest has already concluded 24 of the 25 chapters entailed by this process. Once the remaining one, regarding trade, is finalised, Romania will be welcomed as a full member of the OECD, a status that will bring many benefits for the Romanian economy, Oana \u021aoiu said.<\/p>\n
This organisation, which was established over 60 years ago, promotes the prosperity of citizens, equal opportunities and well-being for all, taking on the role of preparing the world of tomorrow. It brings together 38 countries from all continents, with developed and emerging economies, whose objective is to implement better policies for a better life.<\/p>\n
According to a press statement from the Ministry of Foreign Affairs in Bucharest, the 2026 edition of the Council brought together representatives of OECD member states, the European Union, candidate states for accession to the Organisation (Argentina, Brazil, Bulgaria, Croatia, Indonesia, Peru, Romania and Thailand), as well as a number of international partners and organisations, such as the International Monetary Fund, the World Bank, the World Trade Organisation and the African Union.\u00a0This year’s edition tackled the role of industrial policies in supporting competitiveness, economic growth and prosperity.<\/p>\n
As far as Romania is concerned, the latest OECD forecasts published on Wednesday indicate that the country needs sustained fiscal consolidation beyond 2026 to stabilise public debt and reduce external imbalances. OECD forecasts that Romania’s economy will shrink by 0.1% in 2026 and emphasises that making public spending more efficient, a stronger tax collection and a broader tax base would contribute to improving the country’s fiscal position. At the same time, the organisation emphasises that new productivity gains depend on stronger innovation, the adoption of digital technologies, education and a more dynamic business sector.<\/p>\n
At the macroeconomic level, the organisation expects the Romanian economy to grow by 2.5% in 2027, close to potential growth. It also estimates that investment will be the main driver of GDP growth. According to the OECD, Romania’s exports will gradually recover as external demand improves, while moderate import growth will help reduce a still high current account deficit. Risks include delays in the absorption of EU funds, which could affect investment and economic growth, as well as insufficient fiscal consolidation and excessive salary increases, which may keep the inflation rate high and worsen external imbalances, the OECD also said.<\/p>\n","protected":false},"excerpt":{"rendered":"
In Paris to attend a meeting of the Ministerial Council of the Organisation for Economic Cooperation and Development, Romania\u2019s interim foreign minister Oana \u021aoiu highlighted the importance granted by Romania to the process of accession to the OECD, which she described as an important country objective that will allow us to join the club of […]<\/p>\n","protected":false},"author":107,"featured_media":1025115,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37738],"tags":[],"coauthors":[113282],"class_list":["post-1025245","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-today-in-the-news"],"acf":[],"yoast_head":"\n