site.btaRomanian PM Bolojan Sets Deficit Targets, Eyes 2027 Gas Exports

Romania's PM Ilie Bolojan met representatives of 13 international investment funds coordinated by Bank of America in Bucharest to discuss Romania’s economic priorities, budget outlook and political stability, Romania's Government Press Office said on Friday.

The meeting took place in Bucharest on Thursday evening.

Bolojan said the Social Democratic Party, one of four parties in the ruling coalition, would take over the premiership from spring 2027 under an agreement the government intended to honour. “From spring 2027, the premiership will be taken over by the Social Democratic Party. We intend to respect that agreement. In recent years things did not go well partly because politicians did not keep their agreements,” Bolojan said.

He listed this year’s goals as cutting the budget deficit to 6%-6.2% of gross domestic product, optimizing government running costs, keeping the coalition stable and putting the economy on a firmer footing. He also called for more people to be included in the real economy and for support for companies that transfer technologies and boost exports.

Bolojan said Romania would become a net exporter of natural gas from 2027 once Black Sea deposits start production, adding that part of the resources should be used at home to develop industries hit in recent years. He also pointed to growth potential in agricultural processing.

The funds’ representatives backed the deficit-cutting and cost-control measures and asked what the priorities would be after the new budget is adopted. Bolojan pointed to absorbing EU funds, continued optimization of public spending, and support for investment in the defence industry and technology transfer.