The government deficit fell by 31% year-on-year to RON 59.4 billion (EUR 11.3 billion) in the first eight months of the year, equivalent to 2.9% of projected GDP. Nazare said, however, that the fiscal position remained subject to multiple pressures and required caution in preparing next year\u2019s budget.<\/p>\n
\u201cPrudence, caution and responsibility are essential, in a context in which Romania is facing multiple pressures, and next year may be even more difficult from a budgetary point of view than 2026,\u201d Nazare said in a Facebook post.<\/p>\n
Among the pressures he listed are increased defence spending, including investments financed through the European SAFE instrument, structural problems in public administration and demands to restore purchasing power after public sector salaries and pensions were not indexed. The state also faces payment obligations arising from court decisions that remain unsettled, he said.<\/p>\n
On the revenue side, Nazare said there was still significant scope to improve collection by tackling tax evasion and the informal economy, despite recent improvements in tax revenues.<\/p>\n
The finance minister also highlighted the approaching end of the PNRR\u2019s exceptional financing component. European grants have supported a high volume of public investment, but Romania will need to rely more heavily on cohesion funds, tighter selection of projects financed from the state budget, and private capital.<\/p>\n
\u201cThe 2027 budget must start from this reality. We must clearly state what constraints we have and what needs to be prioritised. Fiscal predictability also means this form of honesty,\u201d Nazare said.<\/p>\n
He added that fiscal consolidation should be accompanied by a shift towards private investment and production, including manufacturing, energy, infrastructure, industry and exports.<\/p>\n
\u201cPostponed problems do not disappear. They become more expensive,\u201d Nazare said, warning that the cost could ultimately be reflected in taxes, inflation, higher interest rates or fewer resources for investment and public services.<\/p>","protected":false},"excerpt":{"rendered":"
The government deficit fell by 31% year-on-year to RON 59.4 billion (EUR 11.3 billion) in the first eight months of the year, equivalent to 2.9% of projected GDP. Nazare said, however, that the fiscal position remained subject to multiple pressures and required caution in preparing next year\u2019s budget. \u201cPrudence, caution and responsibility are essential, in […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12188","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/12188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12188"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/12188\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}