The year 2026 is in a very good financing context for reducing costs by overlapping loans from the National Recovery and Resilience Plan (PNRR) and from SAFE (the European SAFE program - Security Action For Europe - n.r.) of up to six billion euros, said on Thursday the Director General of the State Treasury, Ştefan Nanu, at a specialized debate.
"This year we have a very good financing context, which puts us in a favorable position to achieve our cost reduction objective. We have an overlap of loans from the PNRR with loans from SAFE, which can mean a package of up to six billion euros from the two facilities, loans under extremely good conditions that we can contract," Nanu specified.
According to him, the Government is also focusing in 2026 on investments and procurement projects from cheap financing sources, such as SAFE.
"The Government's focus in the budget process is to accommodate investment projects and procurement projects, such as SAFE, which have very cheap sources of financing. They are also carried out multi-annually in the case of SAFE, as was the case with the PNRR. The primary focus is on the PNRR, because it is the last year in which we can still benefit from these funds," explained the head of the Treasury.
He added that cheaper loans will reduce the issuance of government bonds on financial markets.
"Having more off-market loans outside the market, very cheap, practically reduces our supply of securities on the financial markets. Once reduced, it also has clear benefits on the price and on the interest rate", specified Stefan Nanu.
He believes that European funds are extremely important for our country, primarily because some investment projects can be carried out without impacting the deficit.
"European funds are extremely important, on the one hand, from the perspective of absorbing grants. It is clear that you can accommodate some investment projects without impacting the deficit, the funds being budget-neutral. As long as you use grants for investment projects, they mean an amount on expenses and an amount on income, therefore budget-neutral. The lohn part does not mean the same thing. It means creating a deficit. The respective lohn that you take from the PNRR or from SAFE covers a deficit created by an expense, but it has other benefits. Those loans are the cheapest that Romania could access from somewhere. They are money at the European Union's financing costs at very long maturities, up to 40 years and in low interest conditions, by 2.5 percentage points. So, it is a huge benefit from the perspective of the objective of minimizing long-term costs," explained. the head of the Treasury.
Oxygen Events organized, on Thursday, at the BNR Arena, the conference "Romania de facto: realities and perspectives 2026".
According to the organizers, the event is aimed at professionals interested in economic analysis, decision-making processes and how Romania positions itself in a changing European and global context.
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