Romania's economy is entering a period of slower growth for the next two years

The European Commission's autumn forecast shows that Romania's economy is entering a period of slower growth for the next two years, amid austerity measures adopted to reduce the budget deficit, the largest in the EU. Brussels says, however, that these measures, considered essential for stabilizing public finances, will lead to healthy and visible economic growth from 2027.

European Commissioner Valdis Dombrocskis: The forecast estimates that Romania's budget deficit will fall from 9.3% last year to 8.4% next year and 6.2% in 2026. In Romania's case, we recognize the fiscal effort made by the government so far, which has also allowed investment credit ratings to be maintained, but it is important for Romania to continue this adjustment and ultimately bring the budget deficit below 3 percent of GDP, as set out in the excessive deficit procedure.

The Commission, which published its autumn economic forecast for the European Union on Monday, acknowledges that social costs will be felt until 2027, according to RRA correspondent Bogdan Isopescu.

Translated by: Radu Matei