Romania could fulfill conditions to join euro area in 3-4 years, president says
President Nicușor Dan stated on Thursday, February 12, that Romania could meet the conditions for joining the euro area over the next 3-4 years. He argued that switching to the euro would be beneficial for the country.
Starting January 1, 2026, Bulgaria became the 21st member state of the euro area, while Romania has remained outside the single currency due to its high budget deficit, fiscal imbalances, and the lack of political consensus on adopting the euro.
Denmark, Sweden, Poland, the Czech Republic, Hungary, and Romania do not currently use the EU’s common currency, although it is worth mentioning that some of them opted out.
“Romania’s transition to the euro area is beneficial. The more your economy is integrated into an economy that allows companies to operate across large areas, the more productive those companies will be, and the more well-paid jobs you will have in your country,” president Nicușor Dan said, cited by Digi24.
“To join the euro currency, you must meet criteria both on the deficit and on debt; you must fall within certain indicators that we can aim to reach within a horizon of 3–4 years from now,” the head of state noted.
Last month, prime minister Ilie Bolojan made similar points, underlining his attempts to tackle the budget deficit. “Romania has had very large deficits in recent years. Until we reach a deficit level that is below 3%, this type of issue is not on the agenda,” he said.
According to Bolojan, Romania will attempt to lower its deficit to approximately 6.2–6.3% this year, and 3% by 2030, down from 8.65% of GDP at the end of 2024.
According to the Eurobarometer survey for the European Commission, public support in Romania for adopting the euro is approximately 59%. Analysts cited by Reuters said it will take several years for Romania to stabilize its finances in order to have a realistic prospect of joining the euro area.
(Photo source: Nicușor Dan on Facebook)
