Government: World Bank willing to support financing the budget deficit, provided reforms continue

The Head of Government met on Friday with a World Bank delegation led by Antonella Bassani, Vice President for Europe and Central Asia.

The discussions focused on the technical and financial support that Romania needs to advance economic reforms and improve the performance of public institutions.

According to a Government statement, the World Bank has shown its willingness to support Romania through loans and guarantees for agriculture, energy and projects carried out in public-private partnerships.

Ilie Bolojan drew attention to Romania’s untapped agricultural potential and pointed out that the lack of processing capacities for agri-food products keeps the country in the position of an importer of finished products.

He called for support for the development of the processing industry.

In the field of energy, the discussions focused on access to financing for projects that can stabilize and modernize the energy system.

The Prime Minister stated that the Government is determined to improve the collection of budget revenues and combat tax evasion and requested the expertise of the World Bank to adjust the legislation and tax procedures.

The Government indicates that the World Bank has confirmed its willingness to continue supporting Romania in financing the budget deficit, provided that the reforms undertaken continue.

“We need every leu collected from the budget to be used responsibly, and reforms to produce visible results for the people. The state must become more efficient and fair in what it does, provide better services to citizens and regain their trust. The partnership with the World Bank helps us accelerate these changes and build an economy on sound foundations,” said Prime Minister Ilie Bolojan.

Antonella Bassani added: “We are ready to provide not only financing, but also expertise, so that Romania can capitalize on its potential in essential sectors and ensure a more efficient and accountable state towards citizens.”