Marcel Bolos, Minister of European Funds, In important news for the Romanian economy, today the ECOFIN Council approved the country's Structural Budgetary Plan, along with the plans of 20 other European Union member states. This decision marks a key moment for Romania's economic future, ensuring the continuity of development and long-term financial stability.
"It is a clear guarantee that our country will continue to develop, protecting essential investments and ensuring long-term financial stability," said Marcel Bolos. He stressed the importance of this plan in a European context in which countries such as France, Spain, Italy and Finland are facing similar challenges and have called for the fiscal adjustment period to be extended from four to seven years, until 2031.
Marcel Bolos explained that Romania's situation is not unique and that recent decisions reflect the need for European economies to have time to achieve sustainable fiscal consolidation without compromising development. "Those who minimize the importance of this plan must understand the real stakes: without it, Romania would have risked losing what is being built now for future generations," he warned.
The approval of the plan avoided the pressure of a rapid adjustment of the budget deficit, which would have imposed massive spending cuts, blocking infrastructure investments and significant tax increases. Bolos highlighted the possibility of investing 450 billion lei over the next three years in infrastructure modernization, health, education and green transition.
Compliance with European fiscal rules was crucial to avoid suspension of access to European funds, which could have meant the loss of over 360 billion lei intended for vital projects such as highways, hospitals and schools. "The approval of the plan guarantees us the continuity of these essential investments for the development of the country," Bolos added.
Compliance with fiscal commitments was essential for maintaining the country's rating and easy access to loans. The budgetary-structural plan ensures support for investments, including SMEs, through state aid schemes, thus stimulating the creation of new jobs and economic growth.
Bolos stressed that the tax plan protects the flat rate, avoiding penalizing the economic success of the business environment. “The European Commission agreed with our arguments that the state should NOT penalize economic success,” he said.
The plan also allows for the implementation of important state reforms, including the public pension law, the minimum wage reform and the increase in the second pension pillar. These measures will provide a predictable framework in society and support the business environment in its sustainable development.
Marcel Bolos concluded that the approval of the Budgetary-Structural Plan represents a firm commitment to Romania's future. "The plan takes a form anchored in the reality of Romania's challenges, aiming to reduce waste at the level of state-owned companies, improve tax collection and implement the commitments assumed within the PNRR," he concluded.
With this step, Romania consolidates its position within the European Union and ensures a prosperous future, based on strategic investments and financial stability.
