Romania obtains support for fiscal consolidation and the expansion of infrastructure investments

Recently, a series of key meetings took place in Washington DC. The Minister of Finance, Marcel Boloș, was at the center of discussions with various international financial organizations, including the International Monetary Fund (IMF) and the International Finance Corporation (IFC), as well as the agencies of S&P and Moody’s rating.

Modernizing ANAF and combating tax evasion

Discussions with the IMF’s Fiscal Affairs Department (FAD) team focused on the modernization of the National Fiscal Administration Agency (ANAF). These measures are expected to improve tax revenue collection by 2.5% of GDP. Minister Bolos emphasized “We maintain our commitment to promote macroeconomic stability and are firmly committed to an extensive process of reforms, which result in the growth of the Romanian economy and the support of a new framework for sustainable, fair and inclusive development“.

IFC support for private investment

IFC representatives reiterated their continued support for private investment in Romania, exploring new financing opportunities and contributing to reducing infrastructure gaps. IFC has also expressed a strong interest in supporting public-private partnership projects in areas such as health, transport and waste management.

Meetings with IMF management and rating agencies

The last day of the visit included strategic discussions with senior representatives of the IMF, as well as with the rating agencies, where Romania presented the sustained efforts to maintain macroeconomic stability. Seen from across the ocean, despite the risks at NATO’s gates, Romania continues to represent a regional factor of balance.

“I told them about the investments with a cumulative value of more than 8% of GDP until 2026, which we are preparing in the coming years, with an emphasis on the implementation of the PNRR. The vast majority of them are infrastructure projects that will help reduce transport costs both in terms of time and cost, improving the profitability of companies, which will generate additional flows of foreign direct investment“, Minister Marcel Boloș said.

The delegation of the Ministry of Finance included the secretaries of state, Mrs. Carmen Moraru and Mr. Alin Andries, Mr. Petronel Munteanu, deputy general secretary and the technical team from the General Directorate of International Financial Relations.

The Minister of Finance stated that Romania needs the support of international partners so that all the opportunities we have through the PNRR (29 billion euros) and the Cohesion Policy (46 billion euros) are capitalized on.

“We count on this economic growth as one of our basic pillars for sustainable development. We are also considering fiscal consolidation leading to the modernization of our fiscal system, through measures to combat fiscal evasion or the implementation of digitization projects. Romania is committed to this irreversible path of modernization and the implementation of investment projects and is also committed to carrying out reforms that lead to the sustainability of public spending that Romania has“, concluded Minister Marcel Boloș.