The European Commission expects concrete fiscal and budget consolidation measures in the coming period, which should put public finances on a correct trajectory in relation to the deficit targets pledged in 2021 in discussions with the EU structures, Finance Minister Marcel Bolos said after meeting in Brussels with EC representatives on the subject of the implementation of the reforms set forth in the National Recovery and Resilience Plan, write Agerpres.
„The Commission once again emphasized the need to for us to continue talks on the NRRP fiscal reform, which must be complemented by the package of fiscal and budgetary measures presented by us. The Commission appreciated the government’s efforts and expects in the coming period concrete fiscal and budget consolidation measures which should put public finances on a correct trajectory in relation to the deficit targets committed to in 2021, in the talks held with the EU structures.
Because the fiscal system is struggling to adequately respond to the current economic challenges. The budget consolidation measures must guarantee the long-term correction of the excessive deficit, while at the same time aiming to improve the quality of public finances and strengthen the economy’s growth potential,” the finance minister wrote on Facebook. Bolos considers that the reform of the Romanian fiscal & budget system should not be seen as a necessity, but mainly as an opportunity to stimulate economic growth, attract investments and improve the Romanians’ living standards, considering the 46 billion euros available through the operational programs related to the 2021-2027 financial period and another 28 billion euros that would be disbursed through the NRRP.
„Everyone must understand that the efficiency of public spending must be improved to maximize benefits for the people. And budget allocations should focus on essential sectors such as health, education and infrastructure, eliminating wasteful and redundant spending. I trust that the entire political class will resolutely support this desideratum of strengthening Romania’s fiscal and budget policy and of capitalizing on the opportunity opened to Romania through European money,” Bolos wrote.
The finance minister specified that discussions on the fiscal & budget consolidation package will continue in the coming days, for the rapid implementation of decisions capable of fixing the budget deficit and preventing the further worsening of the production – consumption imbalance.
