Romanian Prime Minister Ilie Bolojan has declared that respecting commitments and consistency in decisions are the only ways for Romania to regain its long-term credibility and predictability. Speaking in an interview with Bloomberg, Bolojan underscored the critical importance of transparency when dealing with international partners, particularly regarding financial targets such as deficit levels.

Bolojan revealed a candid experience from some discussions where he was told, "Say what they want to hear, and then we'll muddle through." When he inquired about the meaning of "muddling through," he was told: "We say like them, but we do our own thing." Bolojan firmly rejected this mentality, asserting that it simply does not work. Instead, he argued, it is better to frankly state what can and cannot be done, along with the reasons why.

The Prime Minister explained that failing to meet commitments, such as exceeding deficit targets announced to the European Commission, leads to the country being viewed "with a certain circumspection, with certain reservations." He noted that restoring trust and raising the country's rating requires offering "predictability," which means being honest about capabilities and limitations, rather than making unrealistic promises.

Regional Perspective

Bolojan's remarks highlight a significant challenge facing Romania as it seeks to solidify its position as a reliable partner within the European Union and on the international stage. This candid insight from a high-level official exposes internal practices that could hinder the country's efforts to build a stable and attractive investment environment. The call for transparency and consistency reflects an urgent need for a shift in administrative and political mentality to ensure the achievement of long-term economic and social objectives, and to bolster the confidence of foreign investors and partners who rely on policy stability and governmental pledges.

Analysis

These statements represent a strong signal from the highest echelons of the Romanian government regarding a renewed commitment to fiscal responsibility and transparency. The Prime Minister's admission of a prior "muddling through" mentality indicates an awareness of structural issues that have affected Romania's credibility in the past. For international investors and businesses, this proposed shift towards a more honest and transparent approach to decision-making can reduce risks and improve the predictability of the business environment. In the long term, if these principles are effectively implemented, it is expected to enhance Romania's credit rating and attract greater investment flows, supporting sustainable economic growth. However, the challenge remains in translating these declarations into actionable policies and a deeper cultural change within the administration.