Gov't estimating 2.5pct economic growth in 2025

The Romanian Government estimates an economic growth of 2.5% this year based on investments and drawing in European funds, Prime Minister Marcel Ciolacu said on Wednesday at consultations with Foreign Investors Council officials on securing economic stability in the current international context."We estimate an economic growth of 2.5% this year based on investment and drawing in European funds. We keep in place the 16pct flat tax and the value added tax. We keep budget expenditures under control, we improve collection to collect higher revenues and we create the premises to meet the budget deficit target of 7% this year. 2025 is the first in the seven years of implementation of Romania's Fiscal Plan agreed upon with the European Commission to consolidate the country's finances," Ciolacu is quoted as saying in a press statement.According to the government, the Foreign Investors Council "appreciated the signal to the market by the government passing administrative reform measures and those included in the budget package for this year, mentioning that they are able to increase the level of investors' confidence.""We are here to contribute, together with the government, to a return to economic growth, including from the perspective of competitiveness," said Daniel Anghel, chairman of the Foreign Investors Council.Discussions also focused on the implementation of the National Recovery and Resilience Plan, measures to support investment in the private sector and increasing competitiveness, expanding the digital transformation of the tax system. At the same time, a consultation method in moving forward was discussed.Wednesday's meeting is part of the government's series of consultations with international financial partners and the business community. Ciolacu has recently had meetings with the World Bank, the IMF and several international investment funds.The government delegation led by Prime Minister Marcel Ciolacu was made up of Deputy Prime Minister Marian Neacu, Deputy Prime Minister and Minister of Finance, Tanczos Barna, Minister of Labour, Family, Youth and Social Solidarity, Simona Bucura-Oprescu, Minister of Economy, Digital Transformation, Entrepreneurship and Tourism Bogdan Ivan, Minister of Energy, Sebastian Burduja, Head of the Prime Minister's Chancellery, Stefan Radu Oprea.  (Photo:https://gov.ro/)