BNR chief economist calls for cross-party pact to cut Romania's budget deficit by 2030

At the “România sub lupă” conference, Valentin Lazea, chief economist of the Banca Națională a României, appealed to Romania's political forces to sign a pact that would bind wage and pension increases to nominal GDP growth and focus on better collection of VAT and profit tax. He noted that the budget deficit currently hovers near 6% of GDP, meaning about one-seventh of state spending relies on borrowing, and set a target of bringing the deficit below 3% by 2030.

Lazea explained that the country loses roughly 3% of GDP annually from uncollected VAT and another 1% from unpaid corporate tax, and that cutting these gaps in half could shave two percentage points off the deficit. He argued that such a commitment would boost Romania's credibility with investors and provide fiscal predictability. Additionally, he urged tighter anti-evasion rules and a reform of the Agenția Națională de Administrare Fiscală, including staff motivation and remuneration. Lazea clarified that his statements reflect personal views, not an official BNR position.