Romania's budget under Resilience Facility may be cut by EUR 1.5 bln

The Romanian minister of European investments and projects (MIPE), Dan Vîlceanu, and the European Commissioner for Competition, Margrethe Vestager, discussed in Brussels several issues related to Romania's National Recovery and Resilience Plan (PNRR), including the possibility of having Romania's budget revised downward by EUR 1.5 bln as a result of country's economy performing above expectations.

"The mechanism of reducing the amounts earmarked to the member states that had economic performance above those anticipated at the time of the initial allocations was addressed. Romania faces a financial correction of about EUR 1.5 bln," a statement from MIPE, quoted by Profit.ro, reads.

Romania was initially allocated some EUR 14 bln in grants and nearly EUR 15 bln in soft loans.

In January this year, Vîlceanu had announced for the first time that Romania could lose about EUR 2 bln from PNRR on the grant side because the initial allocations had been set by European Commission based on more pessimistic GDP estimates than the actual results recorded by Romania.

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