Romanian Finance Minister warns against delaying further deficit cuts
Finance Minister Alexandru Nazare said Romania must keep lowering its budget deficit and continue shifting from debt-driven consumption to investment-driven growth.
Alexandru Nazare, Romania's Finance Minister, announced that the latest figures confirm a marked decline in the budget deficit alongside sustained investment levels. He warned that despite this progress, the state continues to refinance sizable debts and incur steep interest costs, a situation that cannot be resolved within one year. Nazare called for ongoing deficit cuts and a steady shift from a consumption-based, debt-financed model to one centered on investment, production, and productivity.
He emphasized that over 71% of investment payments are linked to EU funds and the National Recovery and Resilience Plan, which have risen sharply. The ministry aims to curb current spending pressures while safeguarding funds for infrastructure, jobs, and development.
