One of the developments closely monitored by the National Bank of Romania is the attraction and timely use of European funds, National Bank of Romania (BNR) Deputy Governor Cosmin Marinescu told a specialist event on Monday.
„We face a complex path marked by the challenge of balancing green objectives related to the energy transition with energy security and economic security objectives, those aimed at protecting vulnerable consumers and ensuring industrial competitiveness. At the same time, the macroeconomic outlook remains dominated this year by multiple risks and uncertainties, both internal and external. These call for caution in public policies and sustained efforts to take advantage of development opportunities, such as those offered by European funds. From the perspective of the National Bank of Romania, one of the developments closely monitored, given its significant influence on economic forecasts and monetary policy conduct, is the attraction and timely use of European funds. European funds are, in the current context, the decisive source of financing for major investments in the economy, and you, representatives of the business environment, know this very well. At the moment, any further delays will reduce the expected positive impact, which is why we believe that we need a sustained national effort to absorb European funds,” said Cosmin Marinescu at the third edition of the „Economic Trends 2025” conference, an event organised by the European Businesswomen’s Federation (PEFA).
He mentioned that, regarding the macroeconomic reality, Romania has entered a stage of controlled adjustments, although not entirely. Thus, a global trend of inflation correction is noticeable, and Romania is no exception. The National Bank of Romania’s forecasts indicate a decrease in the inflation rate to 3.8% by the end of 2025, but also a high number of uncertainty factors that tilt the risk balance upwards.
„In 2024, economic growth was below expectations, at only 0.9%. In this context, the budget deficit exceeded 8.6% of GDP and remains one of Romania’s most pressing economic issues. In tandem, the current account deficit increased by almost two percentage points of GDP, which, however, indicates economic policies that are contrary to macroeconomic sustainability criteria. The good news, including for us at the National Bank, is that we are no longer at the point where we are just talking about the demands of reforms, as the first steps have already been taken at the beginning of this year. The recently adopted fiscal-budgetary measures and the announced administrative reform priorities aimed at improving budget spending efficiency express the firm commitment of decision-makers to restore the sustainability of public finance and economic balances,” Cosmin Marinescu said.
AGERPRES
