Nomination of Alexandru Nazare as Minister of Finance
The following press release was issued on the occasion of the nomination of Alexandru Nazare, President of Paneuropa Romania, by Prime Minister Ilie Bolojan as Romania’s next Minister of Finance.
Press Release of the Paneuropa Romania
Romanian Prime Minister Nominates Alexandru Nazare as Romania’s Next Finance Minister
Bucharest, June 23, 2025 — In a decisive move to stabilize Romania’s finances, Prime Minister Ilie Bolojan, also leader of the National Liberal Party (PNL), yesterday nominated Alexandru Nazare, President of Paneuropa Romania, as the party’s official proposal for Minister of Finance. With the country facing its most severe fiscal challenge in over a decade — a 9.3% deficit weighing heavily on state finances and EU confidence — Nazare’s nomination signals a technocratic turn, drawing on his extensive European experience, a track record of fiscal discipline, strategic investment acumen, and the ability to steer Romania through this economic crossroads.
A former Finance Minister (2020–2021) and current board member of the National Bank of Romania (BNR) since 2023, Alexandru Nazare has consistently demonstrated a commitment to fiscal responsibility paired with a focus on long-term, strategic investments. During his previous tenure, he played a key role in enhancing Romania’s standing among international investors. In recent engagements — including with the Krach Institute for Tech Diplomacy — he promoted Romania as “an absolutely fantastic” destination for foreign direct investment. In 2023, over €4.9 billion of the country’s €6.9 billion in FDI came from reinvested profits, signaling strong investor confidence in Romania’s fundamentals.
Nazare’s work at the European level has also left a clear impact. While representing Romania in Brussels (2007–2011) and later serving as Transport Minister (2012, 2019–2020), he led key negotiations that brought the EU’s Cybersecurity Competence Centre to Bucharest — the first EU agency to be hosted by Romania since its accession to the bloc. As Transport Minister, he oversaw €800 million in EU-backed rail modernization projects and unlocked tenders worth over €850 million in motorway infrastructure, including the strategic Sibiu–Pitești and Comarnic–Brașov corridors — vital routes for Romania’s connectivity and economic growth.
His tenure as Finance Minister stands out for a pragmatic blend of fiscal discipline and developmental ambition. In 2021, he increased Romania’s investment budget by 15%, reaching a record RON 62 billion, with more than half sourced from EU funds. Unlike many predecessors, Nazare emphasized institutional transparency, notably during the early design of Romania’s National Recovery and Resilience Plan (PNRR). There, he insisted on measurable milestones and realistic timelines to ensure access to billions in EU pandemic recovery funds.
He also made significant progress in reducing bureaucracy. In 2021, in collaboration with the OECD and Romania’s Competition Council, Nazare launched a series of digital reforms aimed at simplifying business licensing and improving the ease of doing business — a critical step in boosting competitiveness in the post-Brexit economic landscape. He also maintained active channels with UK officials to foster stronger financial and export relations, even amid regional uncertainty.
Nazare continues his work as President of Paneuropa Romania, the national chapter of the Paneuropean Union — one of Europe’s oldest political movements advocating for continental unity and democratic stability. In this role, he has engaged in high-level dialogue with European policymakers, economists, and institutional leaders, steadily reinforcing Romania’s voice in the broader strategic debate over Europe’s future.
At a time marked by war at the EU’s borders, energy instability, and transatlantic uncertainty, Nazare’s Paneuropean ties offer Romania a crucial asset: meaningful access to long-term European thinking. Through these channels, he has consistently positioned Romania not as a peripheral member, but as a committed stakeholder in shaping Europe’s response to contemporary security and economic challenges. His international exposure, coupled with a deep understanding of national fiscal realities, positions him well to align Romania’s budgetary strategy with today’s geopolitical stakes.
Nazare’s cautionary approach to public spending — avoiding overly optimistic growth forecasts and underestimating costs — offers a necessary counterbalance to Romania’s past budgetary excesses. This realism will be vital in the months ahead, as the new government prepares to implement a €6.9 billion fiscal consolidation package involving spending cuts, postponed investments, and calibrated tax adjustments.
Romania now stands at a fiscal inflection point, where investor trust, EU funding access, and internal political stability all hinge on steady leadership at the Ministry of Finance. With his proven experience, international credibility, and investor-first mindset, Alexandru Nazare aims to steer Romania toward economic recovery, strategic EU alignment, and long-term fiscal coherence.