February 26, 2026 UPDATE

A roundup of local and world news

Newsroom, 26.02.2026, 20:00

EU FUNDING Romania’s PM Ilie Bolojan announced he had confirmed with European Commission officials the budget deficit target of approximately 6% that Romania aims for this year, and said Bucharest will comply with its commitment to correct the deficit trend. “This is the direction we must follow, in order to reduce our interest costs, to keep the absorption of European funds up, and to implement relaxation measures,” Bolojan told a press conference in Brussels, at the headquarters of the Permanent Representation of Romania to the European Union. He also mentioned that the talks also targeted the challenges related to this year’s budget, emphasising that 2026 will see “a peak in investments”, mainly due to European funds under the National Recovery and Resilience Plan, which must be absorbed by the end of August. The Prime Minister said that, under this mechanism, Romania may receive approximately EUR 10 billion. During his visit to Brussels, the Prime Minister met with the executive vice-president of the European Commission, Roxana Mînzatu, the European Commissioner for Economy and Productivity Valdis Dombrovskis, and the President of the European Commission, Ursula von der Leyen. He presented the progress in the implementation of the SAFE programme and appreciated the financial instruments that the Commission makes available to member states for the development of their own defence industries. Bolojan and von der Leyen attended the launch of East Invest, a EUR 28 billion financial mechanism dedicated exclusively to the states on the eastern border of the Union affected by the war in Ukraine.

DRONES Two F-16 aircraft took off at the Feteşti Air Base (southern Romania) last night, after defence ministry radars briefly indicated the presence of a drone in the national airspace, in the context of new attacks by Russia on Ukrainian ports on the Danube. Subsequently, the authorities also issued a RO-ALERT message for the civilians in northern Tulcea County, warning of the risk of falling objects. The alert ended after approximately 30 minutes, with the defence ministry stating that people’s lives had not been in danger at any time. Since the beginning of the year, three other RO-ALERT messages have been issued in Tulcea County, related to the war in neighboring Ukraine.

HEALTHCARE The healthcare minister Alexandru Rogobete and the Regional Director for Europe of the World Health Organisation, Hans Henri P. Kluge, signed the 2026-2027 Biennial Collaboration Agreement on Thursday. According to the Romanian official, the agreement “is built on the specifics of our healthcare system and on the goals in the 2023-2030 National Healthcare Strategy, providing Romania with technical support and international know-how.” Alexandru Rogobete also said, in a social media post, that the agreement strengthens efforts to reduce avoidable mortality and inequalities between urban and rural areas, and strengthens the capacity to prepare for and respond to emergency situations. According to him, Romania benefits from support for risk assessment, updating national intervention plans and organising operational exercises. Alexandru Rogobete also said that the document offers Romania international validation, access to European-level know-how and a coherent framework to step up reforms.

EBRD The European Bank for Reconstruction and Development (EBRD) has revised its growth forecast of the Romanian economy for 2026 to 1.2%, down from the 1.6% rate estimated in September, according to the Regional Economic Prospects report, released on Thursday by the international financial institution. The economic growth in 2026 and the 2.2% growth in 2027 are supported by a projected peak in the absorption of European funds under the National Recovery and Resilience Plan and the improvement of the trade balance. In contrast, the low foreign demand is an important source of risk. the EBRD predicts. For 2025, the financial institution indicates a reduced advance of Romania’s GDP, 0.9%, and a fiscal deficit mitigated to approximately 8%, which may be reduced to 6.2% of GDP in 2026. The increase in VAT and energy prices at the end of last year pushed the annual inflation rate to a 9.7% peak, the highest in the EU.

UKRAINE Ukrainian and US officials are in Geneva to discuss the post-war reconstruction of Ukraine. Kyiv hopes to attract USD 800 billion in public and private funds over the next 10 years, Reuters reports, noting that the World Bank estimated on Monday that restoring Ukraine’s economy will require at least USD 588 billion. The country has suffered massive destruction caused by Russian attacks. Some cities in the frontline area are virtually destroyed, and the energy infrastructure is seriously damaged. Taking part in the talks in Geneva are the heads of the delegations involved in the three-party peace negotiations: the secretary of Ukraine’s National Security and Defence Council, Rusten Umerov, on the one hand, and the US president’s special envoys Steve Witkoff and Jared Kushner, on the other. Russia is present at this round of talks, but new three-party talks are expected in March, Volodymyr Zelensky said yesterday after a phone call with president Donald Trump. The third round of negotiations between the US and Iran on Iran’s nuclear programme also takes place in the Swiss city. Tehran has offered compromises on its nuclear programme, including the dilution of highly enriched uranium, so as to convince Washington that it does not intend to build a nuclear weapon. Meanwhile, the United States has deployed significant naval forces off the Iranian coast, ahead of possible strikes on the Islamic Republic. On February 19, the US president Donald Trump said he was giving Tehran about 10 to 15 days to reach an agreement. (AMP)