site.btaRomanian PM Ciolacu: Romania Will Record Economic Growth of 3.4%, 2nd Highest in EU

At the first first government meeting of the year, Romanian Prime Minister Minister Marcel Ciolacu said that Romania will have economic growth of 3.4% the second highest in the European Union. 

Ciolacu added that 2024 will be the "year of investment", given that a "record amount" of RON 120 billion, or a total of more than 7% of GDP, has been allocated to such projects.

The Romanian Prime Minister said that the country will complete all the reforms it has committed to and continue to implement the stages in the National Recovery and Resilience Plan. In 2024, the Romanian government will also focus on measures to increase local production, with two strategic areas of investment, construction and agriculture, he explained.

Ciolacu specified that the reform of the budget system will be one of the priorities in his mandate and stressed that it is the "most ambitious reform" in the last 30 years.

The process of reorganization of the ministries and state institutions is in full swing, and this will lead to a significant reduction in costs, Ciolacu noted, adding that saved funds would be transferred to where they need be, namely in in healthcare and education.