Romania seeks settlement with Pfizer as vaccine debt accrues EUR 2.5 mln in monthly penalties

Romania is seeking to reduce the budgetary impact of a EUR 680 million payment obligation to Pfizer after losing a legal dispute over anti-COVID-19 vaccine purchases, finance minister Alexandru Nazare said, according to Economedia.ro.

Nazare said the amount represents around 0.2% of Romania's GDP and poses a significant burden at a time when the government is attempting to reduce the fiscal deficit.

In addition to the principal amount, interest charges continue to accumulate at a rate of approximately EUR 81,000 per day, equivalent to nearly EUR 2.5 million per month.

"I cannot go into the details of the negotiation with Pfizer. There is a confidentiality regime that we must respect. In a case of this size, any public statement made imprudently can affect Romania's position," Nazare said.

"What I can say is that, since the moment of losing the lawsuit, we have been making continuous efforts to diminish its impact on the state budget and, consequently, on citizens' money," he added.

The dispute stems from contracts concluded during the COVID-19 pandemic for the purchase of vaccines, when European governments committed to large procurement volumes amid uncertainty over the evolution of the health crisis.

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