ECONOMY FINANCE&BANKING

FinMin Teodorovici: Romania has a well-established plan in regards to switching to euro; goal to be achieved in 2024

Romania has a very well-established plan in terms of switching to euro currency and the goal clearly remains the year 2024, Public Finance Minister Eugen Teodorovici stated on Friday in the preamble of the Eurogroup meeting and the informal meeting of finance ministers (the Economic and Financial Affairs Committee – ECOFIN) organised in Bucharest, between 5 and 6 April.

“Romania has set out a clear objective [to switch to euro currency] the year 2024. Even if we are ready with certain requests, the decision, however, is to be made at European level. In this regard, Romania has a very well-established plan. Last year, in December, the Government approved such a plan, in order to switch to euro. We stick to it, fulfill the objectives, as we have always done it,” the dignitary stated.

When asked to comment the discussions in the European Union Council related to the Directive through which quotas for excise goods such as alcohol or cigarettes could be introduced, Eugen Teodorovici said that the discussions are “very intense,” but, in his opinion, there will be no increase in taxes “in the near future.”

In respect to the informal meeting of the finance ministers in Bucharest, the Romanian official underscored that one of the sensitive topics included on the agenda of debates refers to the migration of workforce.

Vice President of the European Commission in charge of Euro and Social Dialogue, Financial Stability, Financial Services and Capital Markets Union Valdis Dombrovskis together with European Commissioner for Budget and Human Resources Gunther Oettinger, as well as European Commissioner for Economic and Financial Affairs, Taxation and Customs Pierre Moscovici will represent the European Commission to the Eurogroup meeting and the ECOFIN meeting.

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