Prime Minister Ilie Bolojan explained in Berlin on Wednesday what Bulgaria did to join the eurozone and what Romania lacks to follow the same path.
The head of the Government pointed out that while Bulgaria has met the deficit criterion, Romania is still in a process of gradually reducing fiscal imbalances, with a target deficit of over 6% this year.
The statements were made in a joint press conference with German Chancellor Friedrich Merz, held in Berlin.
Budget deficit, key difference between Romania and Bulgaria
"Regarding Romania's accession to the eurozone, Bulgaria meets the conditions related to the deficit component. As you know, Romania has had very large deficits in recent years," said Ilie Bolojan.
The Prime Minister emphasized that the basic rule for joining the eurozone is a budget deficit below 3% of GDP, a threshold that Romania currently does not meet.
"Until we reach a deficit level below 3%, this type of issue is not on the agenda. The target for this year is around 6.2 - 6.3%," Bolojan said.
2030, the deadline for correcting imbalances
The Executive Chief stated that Romania has committed to gradually reducing the budget deficit, with the goal of reaching the 3% threshold by 2030.
"We are in a situation where we are reducing our deficits and we have committed to reduce this deficit to the 3% level by 2030," the Prime Minister added.
According to him, only after reaching this threshold could Romania seriously discuss joining the eurozone.
The euro theme, a possible political priority after 2028
Ilie Bolojan believes that adopting the euro could become a central theme in Romanian politics after the 2028 parliamentary elections, if parties reach a consensus similar to that during the EU and NATO accession periods.
"This theme could be a key one in Romania during the 2028 parliamentary elections, when political forces could come to an agreement on this priority," the Prime Minister said.
What Bolojan says about the Republic of Moldova
When asked if a potential union with the Republic of Moldova would automatically lead to eurozone accession, Bolojan avoided a direct answer and spoke about Chișinău's European path.
"For Romania, the relationship with the Republic of Moldova is a special one. Opening negotiations with the EU would be the biggest gain for the Republic of Moldova," the Prime Minister stated.