Candidate portrait. Who is Eugen Teodorovici, the former Minister of Finance who is running for the Capital and has not declared any accounts
Former minister Eugen Teodorovici submitted his candidacy for the Capital City Hall on Sunday, November 16. Teodorovici is a politician with a public image marked by controversies during the period spent in charge of the Ministry of Finance. In the last declaration of wealth, the former minister did not declare any bank account, only debts, salary from the Court of Accounts and rents collected in the last fiscal year.
PHOTO Facebook/ Eugen Teodorovici / Archive
Eugen Teodorovici, former Minister of Finance, is also originally from Buzău, the county where he grew up and where the former head of the PSD and prime minister, Marcel Ciolacu, is returning to run for the position of head of the County Council. This county also offered Teodorovici his first political positions. He was elected deputy of Buzău in several legislatures, building a solid political base before reaching positions at the national level.
His ministerial career began in 2014, when he took over the European Funds portfolio in the government led by Victor Ponta. It was a period when Romania was facing difficulties in absorbing European funds, and Teodorovici had the mission of speeding up the implementation of projects.
Connections with the political world
After the position of deputy and minister of European Funds, the defining moment of his career came in 2017, when he became Minister of Public Finance in the Mihai Tudose government, a position he kept until the cabinet led by Viorica Dăncilă, in 2019. However, the period of his leadership was marked by major tensions on economic and fiscal issues.
In total, he had two deputy mandates, obtained in the period 2012-2020.
The former minister contested the change of PSD leadership after the resignation of Viorică Dăncilă and requested in court his recognition as interim president of the party, arguing that, being executive president in the previous structure, he did not resign from this position.
In 2024, after participating in the launch of the Romanian Sovereign Bloc, being a director in the Audit Authority of the Court of Accounts, he was investigated by the Ethics Committee.
Controversial measures
During his tenure at Finance, Teodorovici was associated with several controversial measures:
– Ordinance 114/2018 (tax on greed), which introduced additional taxation of banks and energy companies, generating vehement protests from the business environment;
– Frequent changes to the Fiscal Code, which affected the predictability of the business environment;
– Tensions with the National Bank of Romania on monetary and fiscal policies.
The blunders of the former minister
Eugen Teodorovici is also known for his controversial statements. One of them? “If you want to be rich, save money.” This was his advice for Romanians who were facing price increases.
Although he held important positions, Teodorovici never managed to reach the first echelon of the PSD leadership, and after the party's defeat in the 2019 presidential elections and the exit from the government, Teodorovici also lost his deputy position.
Wealth. With rents and salary from the Court of Accounts, but no bank accounts
According to the last declaration of wealth, submitted in June, from the Court of Accounts, he has 4 urban plots with his concubine, Costache Florentina, bought between 2001-2008, of which 3 in Bucharest and one in Otopeni, of over 1000 square meters.
He has 3 more houses and an apartment next to this one, all in Bucharest. The apartment is inherited by him, and the houses are also bought in the period 2001-2008.
He has assets in 3 companies, those of CARE ROMĀNIA SA having a value of over 60,000 lei.
He has no accounts listed in the wealth statement. Only passed the credits. One at Banca Comercială Română, worth 352,230 euros, credited in 2007 and due in 2045. In the same year, he made another one worth 221,317 euros at the same bank. In 2008, he made a larger loan, at Credit Europe Bank, due in 2033, in the amount of 121,823 euros.
However, the former minister stated that he received 14,107 lei in the last fiscal year from his position at the Court of Accounts. Together with Costache Florentina, he also collected rents in the amount of 32,400 euros and 9,600 euros.
Proposals for the Capital City Hall: parking for one leu
The former Minister of Finance Eugen Teodorovici promises to reduce the cost of parking. “From December 8, as general mayor, parking in Bucharest will be only one leu. From 5 lei, which is today's parking hour in Bucharest, and even more, it will be only one lei per hour, anywhere in Bucharest. If you want to see what I'm going to do for Bucharest, give me a follow and you'll see all my measures”, he transmitted.
