Solid partnership between Romania, World Bank will continue to help with economic development

Romania's long-standing partnership with the World Bank Group continues to play an important role, especially in the current geopolitical context, which requires constant efforts for an efficient mobilisation of available resources and assistance.The latest developments in the relationship between the two entities, including the release in October 2024 of the Country Partnership Framework 2025-2029, were analysed during a meeting on Monday of the Minister of Finance, Tanczos Barna, Executive Director of the World Bank Eugene Rhuggenaath, and Country Manager for Romania Yasser El-Gammal.During the discussions, the Tanczos voiced appreciation for the constant support that the organisations of the World Bank Group grant it in promoting reforms and investments essential for Romania's development. At the same time, he said that securing balances is a key priority for strengthening resilience and increasing competitiveness, requiring sustained and coordinated efforts from the authorities."In the current difficult economic and geopolitical context, it is important to take full advantage of the new governance framework and implement it in a way as to ensure sustainable economic growth, as well as the implementation of the necessary reforms and investments. We assured the World Bank team that the 2025 budget reflects this approach and aims to comply with the commitments in the budgetary-structural plan in the medium term. We have committed to reducing the deficit to 7% in 2025 and we have built a budget that provides for record investment, with Romania continuing to be at the top of the EU states, in terms of the level of public investment - reaching 7.8% of GDP. I am convinced that the solid partnership between Romania and the World Bank will continue to help us in the process of economic development," said Tanczos.According to the Romanian Finance Ministry, the World Bank Group's flexibility and ability to react quickly to respond to specific needs is reflected in a balanced manner in the current Country Partnership Framework. It will allow, through the variety of support opportunities offered (both financially and through technical assistance), supporting Romania's priority reforms and investments, rounding up the activity of other development partners.+