President Dan mentions budget deficit issue in inauguration speech

Business Forum
Romania's President Nicușor Dan said in his inauguration speech, held in front of MPs, that the country's short term challenge relates to its budget deficit.

Dan said the state overspends and this can “put into discussion the financial stability” of the country.

"Regarding the economy, our priorities include putting a stop to significant tax evasion, implementing measures to reduce and make state spending more efficient, guaranteeing professional oversight and management for state-owned enterprises, developing a clear economic growth strategy, boosting our agro-industrial and processing capacities to enhance agricultural production, adequately financing a comprehensive irrigation system, making it easier to access European funding, and critically, creating an attractive framework for investors," said the President, according to his official speech.

Romania had a budget deficit of 9.3% of GDP in 2024 compared to 6.6% in the previous year. This year, the government is aiming to lower the deficit to 7%.

RECOMMENDED
BVB indices open higher on Monday
Finance

BVB indices open higher on Monday

The Bucharest Stock Exchange (BVB) opened the trading week in positive territory, with most of its main indices showing gains in the early hours of Monday.

RECOMMENDED FROM THE HOME PAGE
Romanias net profit of banking system up 5% in 2024
Finance

Romania's net profit of banking system up 5% in 2024

The net profit of the entire banking system amounted to RON 14.197 billion (€2.86 billion) at the end of 2024, up 5% compared to 2023, according to the annual report for 2024 published on Monday by the National Bank of Romania.

READ MORE
Business Forum  |  23 June, 2025 at 6:23 PM
Business Forum  |  23 June, 2025 at 4:26 PM