Alexandru Nazare participates in the ECOFIN meeting in Cyprus, focused on fiscal consolidation, the use of European funds, and the financing of strategic investments.

The Minister of Finance, Alexandru Nazare, is participating in the informal meeting of the Economic and Financial Affairs Council (ECOFIN) from May 22-23, 2026, in Nicosia, Cyprus, under the Cypriot Presidency. The meeting addresses essential themes for Romania, such as fiscal consolidation, the use of European funds, and the financing of strategic investments. Nazare emphasizes the need for Romania to reduce the deficit, protect investments, and fully utilize the available European funds.

The European Commission's forecast highlights the importance of well-directed investments for economic recovery. The recently signed SAFE agreement provides Romania with access to 16.68 billion euros for defense and infrastructure. Additionally, the implementation of the National Recovery and Resilience Plan (PNRR) is crucial, with an implementation rate of over 60%. ECOFIN discussions will include aspects related to the long-term competitiveness of the European Union and the status of national PNRRs, highlighting the importance of finalizing negotiations to attract European funds.