Cristian Popa, a member of the NBR’s board, says that Romania must reduce its deficit below 3% to advance toward the euro area

Romania’s accession to the eurozone depends first and foremost on fiscal consolidation, but it also requires a political decision and sustained efforts from all authorities, Cristian Popa, a member of the Board of Directors of the National Bank of Romania (NBR), said on Friday in Sinaia during the Rethink Romania 2026 Summit.

The NBR official said that reducing the deficit from approximately 9% to 6% represents progress, but the Maastricht criteria require a budget deficit of no more than 3%. Romania has committed to bringing the deficit below this threshold in 2029–2030. Only afterward could the country have a serious discussion with its European partners about joining the single currency.

Cristian Popa stressed that achieving this objective does not depend solely on the central bank. Reducing the deficit and public debt, as well as bringing inflation back to a level compatible with European criteria, requires measures and sacrifices from all decision-makers.

The NBR is technically prepared for the transition to the euro, including its payment systems, banknote printing and, in the near future, the production of euro coins. Popa supports accession but cautions that the eurozone has both advantages and disadvantages.