site.btaRomania's Caretaker Minister of Investments: Country Could Target Euro Adoption in 2032

Romania could target 2032 for adopting the euro, caretaker Minister of Investments and European Projects Dragos Pislaru said Monday, as quoted by local media.

Pislaru said euro adoption would depend on fiscal consolidation. He regarded 2032 as a feasible target if Romania completes fiscal consolidation by 2030, adopts a coherent national development plan for 2028-2034 and maintains political stability.

“Adopting the euro is possible only if the relevant criteria are met. These include the budget deficit and public debt, both of which are linked to the consolidation now under way,” Pislaru said. He recalled that Romania aims to “put its finances in order by 2030”.

Romania has been subject to the EU’s excessive deficit procedure since 2020. In 2024, its general government deficit reached 9.3% of gross domestic product (GDP), the highest level in the EU. The country’s seven-year fiscal plan aims to reduce the deficit to around 2.4% of GDP by 2031.

Last week, National Bank of Romania Governor Mugur Isarescu said the country did not meet any of the criteria for adopting the euro and that no realistic timetable for joining the euro area could yet be set.

Romania has been in political crisis since its pro-European four-party coalition collapsed in late April and Prime Minister Ilie Bolojan’s government lost a no-confidence vote on May 5. Efforts to assemble a new parliamentary majority and form a government have so far failed. Bolojan’s cabinet has remained in a caretaker capacity with limited powers since May 5 and will remain in place until a new government is formed.