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October 18, 2021

Romania asks ECOFIN for a 4-year span re-assessment of MTO calendar

The Minister of Public Finances, Darius Valcov has announced on Wednesday that he has asked for a re-assessment of the Medium Term Objective (MTO) calendar on a 4-year span to the ECOFIN reunion.

‘I’ve asked, on Romania’s behalf for a re-assessment of the MTO calendar on four years period and I wish to have a meeting next week on this issue, because in March or April, the latest in April when we’ll have the official demand to the European Commission, I wish we have a full support both from the Parliament and the Government, from all the political forces because this re-assessment would lead to an increment of the investments’ allocations in Romania in the next four years and I believe it’s a common interest,’ Valcov said in the Budget-Finances Committee with the Chamber of Deputies, after the lack of quorum was found.

The meeting of the said committee with the Chamber of Deputies, which was due to tackle the conversion of the credits in foreign currencies into the national currency, was suspended on Wednesday because it lacked the quorum. It was supposed to gather the representatives of the Romanian Banks Association (ARB), the central bank (BNR), the Pubic Finance Ministry (MFP), the Banking Employers’ Council (CPB).


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