Romania faces fiscal hurdles for Eurozone accession

Cristian Popa, a member of the National Bank of Romania (BNR) Board of Directors, has stated that Romania's path to adopting the euro is strictly dependent on fiscal consolidation. While the budget deficit has decreased from 9% to 6%, the Maastricht criteria require a maximum deficit of 3%.

Popa noted that Romania has committed to bringing the deficit below the 3% threshold by 2029-2030, which would allow for serious discussions regarding Eurozone entry. He emphasized that the transition is both an economic and a political phenomenon, requiring sacrifices and sustained efforts from all decision-makers to reduce public debt and control inflation.

Technically, the BNR is already preparing for the transition by working on payment infrastructure and the production of euro banknotes. However, these technical steps must be accompanied by broader economic progress and political commitment across the national administration.