The negotiations with EC representatives for Romania’s 7-year budget deficit-cutting plan will start from an assumed deficit of 6.9 percent, Prime Minister Marcel Ciolacu declared on Thursday upon leaving from German Unity Day, an event organized by the Embassy of the Federal Republic of Germany in Bucharest.

Asked if it is true that the negotiations on the plan to reduce the deficit will start from a gap of almost 8 percent, Ciolacu replied: „We are starting discussions from 6.9, as we undertook at the budget adjustment. Indeed, with a 7-year projection for the deficit reduction. It’s no catastrophe, we won’t reach 8 percent. Last year, and two years ago there was this doom-mongering, but it’s mere sensationalism, especially since 84 percent of the money is spent on investments.”

The prime minister emphasized that the years 2025 and 2026 represent a great challenge for Romanian investments.

„Also in the current financial year, the projects should reach maturity, of course they have 15 percent co-financing as well, but co-financing for large infrastructure projects under the NRRP has reached almost 60 percent, especially for road building. There are a lot of grants we cannot afford to lose, so the next two years will be a challenge for Romania, let us keep the same pace, at least as this year. My opinion is that we will end the year with investments around 110 – 120 billion, it will be a historic feat for Romania and very hard to beat,” declared Ciolacu.

AGERPRES