Minister of Finance, Tanczos Barna, argues that Romania is a country in full economic development and can rely on a solid economic growth. He emphasizes that Romania has already surpassed 7 EU states with a lower GDP per capita and is „on the rise,” very close to Estonia.
At the end of the government meeting where the budget for 2025 was adopted, Tanczos Barna presented the pillars on which it was built. Here are his arguments, excerpted from News.ro:
- Looking at the GDP and the recovery of gaps compared to the other EU member states, based on Eurostat, the official EU statistics, we can see that Romania has already left behind 7 member states with a lower GDP per capita than Romania's and we are very close to Estonia and are on the rise.
- It is very important because Poland, Hungary, Croatia, Slovakia, Latvia, Greece, Bulgaria, countries with solid economies, are behind us.
- We can state that Romania can rely on a solid economic growth, on an economy on the rise, in development.
- This development is due, on the one hand, to positive developments in the economy.
- One of the most important elements is the evolution of labor productivity. We can see that we have left behind the pack in Central and Eastern Europe and from this point of view, Romania is at the forefront of this pack made up of Bulgaria, Czech Republic, even Slovakia, Slovenia, Croatia, Hungary, Poland. So, in terms of labor productivity, the signs are encouraging.
- Agricultural productivity is increasing significantly, primarily due to investments.
- Investments are the engine of this economic growth, and Romania can consolidate its position also thanks to the support we receive from the National Bank of Romania.
- The international reserves of the National Bank of Romania are increasing, and this provides stability and credibility for Romania. This is a positive thing.
- These are the elements that create the premises for an economic growth of 2.5% for the year 2025.
- Last year, if it weren't for the multiple salary increases and significant increases in investment amounts, the budget would have approached, not to say that it would have fit within 5.5%, for example, but it would have approached the projected deficit.
- I understand the concerns of those in the Economic and Social Council because year after year the challenges are significant (...) but I am convinced that we will manage.