Prime Minister Ilie Bolojan estimates that the budget deficit will not fall below 8% this year

Prime Minister Ilie Bolojan estimates that Romania's budget deficit will not fall below 8% this year and is expected to reach around 6% next year. Romania must quickly take measures to reduce spending, as there is a risk that its European funds will be suspended if it does not correct the budget deficit by October 15, as requested by European officials.

The head of the executive explained, in a televised interview, that Romania must have fiscal discipline, so that money is no longer wasted and creates 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. He will receive assurances that Romania is a serious and reliable partner that will honor its commitments, the prime minister specified.

Ilie Bolojan: We must regulate the issues related to deficits and the measures that Romania has taken and is preparing, in such a way that we are a trustworthy country and that we are in a position to no longer continue the procedure for suspending European funds. This is a very important element and based on the discussions that the team from the Ministry of Finance had with the European Commission's finance team, we are preparing to make a budget correction next week and we must do things in such a way that we ensure payments, continue investments.

Also in Brussels, the Prime Minister will discuss with Andrius Kubilius, the Commissioner for Defense, about the European SAFE program, through which Romania will receive a credit of 16 billion euros, money that will help us stabilize the budget deficit, develop the defense industry and complete investments in military and civilian transport infrastructure.

Translated by: Radu Matei