2027 could be the year of economic recovery (economy minister)
The interim Minister of Economy, Digitalization, Entrepreneurship and Tourism, Irineu Darau, declared on Friday, in Sfantu Gheorghe, that he hopes that next year will mark the relaunch of the Romanian economy, saying that the budgetary rebalancing me. . .
The interim Minister of Economy, Digitalization, Entrepreneurship and Tourism, Irineu Darau, declared on Friday, in Sfantu Gheorghe, that he hopes that next year will mark the relaunch of the Romanian economy, saying that the budgetary rebalancing measures adopted in the last period are starting to produce effects. He stated, during a press conference, that although the economic situation remains difficult, macroeconomic and fiscal indicators are starting to improve, and the first measures to stimulate the economy are making their presence felt. "I think it's a complicated economic situation now, we know that, but at the same time, I strongly believe that if last year was one of austerity, at least its second part, mandatory given the bad budgetary situation, this year is one of rebalancing. It's one in which the macro, budgetary, fiscal figures are really starting to look better and some small recovery measures are starting. The fuel crisis didn't help us, nor did certain geopolitical developments, but I believe that if we keep, regardless of the government formula, the rational line this year, the efforts of people and entrepreneurs, including through taxes, will not have been in vain. If we somehow return to an approach with unlimited and irrational public spending, we made all this effort in vain", declared Irineu Darau. The interim minister also expressed hope that international rating agencies will recognize the progress made by Romania and that the country will maintain its status as an attractive investment destination. "I sincerely hope that the rating agencies will recognize in these months both the efforts, and the macroeconomic and fiscal data, that we will not be relegated, so we will remain attractive for investments. I hope that we will quickly enter the OECD and that next year we will have a real year of recovery (. . . ) Things are getting in order and if we had a budgetary mess for a while, I believe that this cleaning that has been done will help a healthy recovery. Because you cannot, if in July, speaking of this government, imperfect as it may be, but they have also made some good decisions, you cannot, if in July 2025 you have deficit projections of over 10%, remain on that trajectory. The thing that I strongly believe is that we were in junk last year already, if we remained on that trajectory. Junk (. . . ) means that you are not recommended for investments. The fact that Romania is somehow struggling a little economically, but has remained a country recommended for investments, and I see as Minister of Economy and the figures also say it that investments are growing and that investors' interest exists, means potential for the future", Irineu Darau also said. He also believes that maintaining a prudent economic policy is essential to avoid major imbalances. "It does not mean that it is easy now and that we are now seeing the fruits of these things. But this is somehow a kind of warning, regardless of the governing formulas that will come, my appeal, which I will keep making these months, is to remain rational, thoughtful, so that we do not go through the same torments and austerities too often", added interim Minister Irineu Darau.