According to Minister Alexandru Nazare, the prospect of receiving the funds by the end of the year is realistic, but it depends on the completion of the evaluation and approval stages.
“I discussed with Commissioner Dombrovskis the status of Romania’s first payment request submitted under the SAFE instrument, as well as the prospect of these funds becoming available by the end of the year. Based on our discussion, this prospect is realistic, subject to the completion of the evaluation and approval stages,†Alexandru Nazare posted on Facebook on Tuesday.
He maintains that “it is essential to align the investment and payment schedules with the actual availability of European funding, so as to limit the pressure on market-based financing and ensure the predictability necessary for the implementation of the programs.â€
Discussions in Brussels also focused on payment requests 5 and 6 under the PNRR, as well as the outlook for Romania’s public finances and the preparation of the 2027 budget.
Alexandru Nazare noted that receiving European funds under the PNRR is essential both for financing investments and for meeting the budget deficit target.
The minister pointed out that Romania has already mobilized significant budgetary resources for PNRR investments, including to make certain payments, and that failure to receive the corresponding European funds would place additional pressure on the budget and financing needs.
“There is a direct link between the implementation of reforms, European funding for investments, and the balance of budget execution. Any uncollected European funds, for which the state has already committed expenditures, creates additional pressure on budgetary resources and financing needs,†the minister explained.
Looking ahead to 2027, Nazare warned that the budget will have to account for the pressures generated by personnel and pension expenditures, public investments, public services, and rising defense spending.
“At the same time, we must take into account the change in the structure of European funding following the closure of the National Recovery and Resilience Plan (PNRR) and the need to secure resources for continuing investments that extend beyond this timeline. We cannot construct the 2027 budget by simply adding up expenditure requests. We need a realistic assessment of revenues, existing obligations, and available fiscal space, as well as decisions regarding the prioritization of expenditures and the measures that must be adopted before the budget is approved,†Nazare added.
The Minister of Finance emphasized that Romania must continue to reduce the deficit without sacrificing investments and must maintain the credibility of the commitments it has made to its European partners and investors.
“Consistency in reducing the deficit is fundamental to protecting the country’s credit rating, maintaining access to financing, and creating the conditions for lowering borrowing costs for both the government and the private sector,†Nazare further stated.