Prime Minister Ilie Bolojan estimates that Romania’s budget deficit will not drop below 8% this year, so it will remain very high, despite the austerity measures adopted in June. The deficit is expected to reach around 6% in 2026. Until then, Romania must quickly take measures to reduce budget spending, as there is a risk, among other things, that its European funds will be suspended. In fact, European officials have also announced a deadline by which Bucharest authorities must demonstrate that this indicator is entering a downward trend – October 15. Prime Minister Bolojan told a televised interview that Romania must have fiscal discipline, to prevent wasting public money and create the conditions for the development and support of the economy. All these aspects will be discussed on Monday, in Brussels, by Ilie Bolojan with Valdis Dombrovskis, the European Commissioner for the Economy. The EU official will receive assurances that Romania is a serious and reliable partner that will honor its commitments, the Prime Minister said.<\/p>\n
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\u201cWe must regulate the issues related to deficits and the measures that Romania has taken and is preparing, so that we are a trustworthy country and avoid any procedure for suspending our European funding. This is a very important element that was discussed by the delegation of the Finance Ministry with the European Commission’s Finance team. We are preparing to operate a budget adjustment next week and we must correct things, in such a way as to ensure payments and continue investments\u201d.<\/p>\n
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Also in Brussels, the Prime Minister will discuss with Andrius Kubilius, the EU Commissioner for Defense, about the European SAFE program, by means of which Romania will receive a loan worth \u20ac16 billion, which will help stabilize its budget deficit, develop the defense industry and complete investments in military and civilian transport infrastructure. Equally important will be Monday\u2019s meeting between Prime Minister Ilie Bolojan and the European Commissioner for Social Rights and Skills, Roxana M\u00eenzatu. Talks will focus on Romania’s position in the debate on the EU\u2019s upcoming multiannual budget.<\/p>\n
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\u201cThe amounts disbursed to Romania and the way these amounts are allocated, what funds will go to the agricultural policy, and what remains for cohesion \u2013 we need to understand them as best as possible and be able to obtain the best possible deal for our country… these are very important elements and that makes them my priority\u201d. The end of this month and the start of next month are very busy and very important for rectification, for deficits, for the Commission, Ilie Bolojan concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"
Prime Minister Ilie Bolojan estimates that Romania’s budget deficit will not drop below 8% this year, so it will remain very high, despite the austerity measures adopted in June. The deficit is expected to reach around 6% in 2026. Until then, Romania must quickly take measures to reduce budget spending, as there is a risk, […]<\/p>\n","protected":false},"author":109,"featured_media":928483,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37738],"tags":[176404,31777,175510,176405],"coauthors":[115219],"class_list":["post-929206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-today-in-the-news","tag-budget-deficit-measures","tag-loans","tag-prime-minister-ilie-bolojan","tag-talks-with-the-european-commission"],"acf":[],"yoast_head":"\n