Romania currently does not meet any of the criteria necessary for adopting the euro. This was stated by the governor of the National Bank of Romania, Mugur Isserescu, when presenting a report on inflation, Digi 24 TV reports, BTA reports.
According to him, the main priority of the country at the moment should be fiscal adjustment and reducing the budget deficit below 3 percent. According to Isserescu, a realistic timetable for Romania's accession to the eurozone cannot be set at this stage.
The central bank governor believes that the country will probably need “a few good years”, and in any case, accession cannot be expected before the 2028 elections.
Isserescu recalled that Romania had already been preparing the transition to the single European currency, but the process was interrupted in 2018. He stressed that adopting the euro is not a simple replacement of the national currency, but a complex political and social process that requires the stability of the fundamental economic indicators.
The governor of the National Bank of Romania also recalled that the country cannot abandon its commitment to adopting the euro. With the Treaty of Accession to the European Union, Romania has undertaken to introduce the single currency when it meets the necessary conditions.
The National Bank is ready to participate again in the preparation of the process of joining the eurozone, Isrescu said. However, the final decisions must be taken by the Romanian government and parliament.