President Nicușor Dan on Friday praised Romania’s ‘remarkable’ pro-Western coalition as he had signed into law a package of tax and budget measures designed to slash Romania’s whopping budget deficit.
‘We have just signed the first package… of 30-40 pages,,” he said.
“After years when Romania spent more than it could afford, and then you take measures that reduce these expenses, it is difficult … because tensions arise in the (governing) coalition.” Romania’s budget deficit was 9.3% last year, the highest in the European Union.
It aims to reduce it to 7.5% this year and 6.6% in 2026. Romania managed to avoided a junk rating this week as credit rating agency S&P Global Ratings affirmed the country’s long- and short-term sovereign credit ratings at ‘BBB-/A-3’, maintaining a negative outlook.
“What I want to say at this point is that it is remarkable that the pro-Western parties in Romania have taken responsibility for the measures. The easiest thing for them would have been to stay in opposition,” he said at a press conference.
The Romanian president began a two-day official visit to Austria on Friday at the invitation of counterpart President Alexander Van der Bellen. He was a speaker at the Salzburg Summit 2025, a cultural event.
During his visit, he will meet with Chancellor Christian Stocker.
President Dan is accompanied by Foreign Minister, Oana Țoiu, his adviser for European Affairs, Luminița Odobescu, adviser for economic and social Policies, Radu Burnete, and the interim Chargé d’affaires at Romania’s Embassy in Austria, Andrea Amza-Andras.
The president’s family also traveled with him to Austria.
Romania avoids junk rating, as S&P maintains ‘BBB-’ with negative outlook over ongoing fiscal risk
