Alexandru Nazare calls for reducing the deficit without sacrificing investment, infrastructure, energy, and defense

Interim Finance Minister Alexandru Nazare said Saturday, following the ECOFIN meeting in Dublin, that Romania must reduce its deficit while protecting investment and strategic sectors. He said the country cannot choose between fiscal consolidation and economic growth, but needs both.

Nazare said that cutting inefficient spending and reorganizing major public services must go hand in hand with funding for infrastructure, defense, energy and economic connectivity. In talks with representatives of the European Commission, the minister addressed Romania’s fiscal path and compliance with its deficit commitments.

According to him, credible and sustainable fiscal correction can reduce financing costs and free up capital for companies. Romania also needs a stronger European single market, productive investment, competitive energy and better skills.

The effects of artificial intelligence on productivity, the labor market, public administration and energy consumption were also discussed in Dublin. Nazare believes Romania must leverage its energy advantages, digitalize its administration and turn fiscal consolidation into a foundation for the development of the next decade.