Marcel Ciolacu Net Worth

Background and career

Ion Marcel Ciolacu (born 28 November 1967) is a Romanian politician who served as the prime minister of Romania from 2023 to 2025. Ciolacu entered national politics in 2012, when he was first elected for a deputy seat in the Parliament of Romania. In 2015, he was elected Social Democratic Party president for Buzău County. Ciolacu came into national prominence in 2018, when he became the Deputy Prime Minister in the cabinet of Prime Minister Mihai Tudose.

Following the overwhelming defeat of new PSD leader Viorica Dăncilă in the 2019 Romanian presidential election, on 26 November 2019, Ciolacu was named leader of the party, firstly ad-interim, until he was confirmed to hold the position by the party congress the next year on 22 August 2020 with an overwhelming 1310–91 margin against his opponent. Ciolacu led the party to victory in the 2020 Romanian legislative election but was not able to form a majority coalition in the new legislative. Other parties opposed to the PSD formed a new coalition on 23 December with the new government, thus pushing Ciolacu's PSD into opposition. However, in 2021, following the political crisis that led to the collapse of the Cîțu Cabinet, he managed to bring the PSD back to the government, forming a cabinet with its former rival, the National Liberal Party, thus forming the National Coalition for Romania.

His premiership was described by opposition figures as illiberal, or authoritarian, being accused of limiting press freedom. He was also accused of economic mismanagement; under Ciolacu, Romania reached the highest external debt, while inflation reached 7.3%, the highest in the European Union (where the average was 3.1%), and the second-highest in all of Europe, only behind Turkey (as of February 2024). In the 2024 The Economist Democracy Index, Romania was downgraded from flawed democracy to a hybrid regime, becoming the only EU country to be classified as such.

On 25 November 2024, following his defeat in the first round of that year's presidential election, Ciolacu announced his resignation as leader of the Social Democratic Party but he ultimately did not resign as he was given a vote of confidence to maintain party leadership. Following the 2024 Romanian parliamentary election on 1 December, he was nominated to form the new government and remain in office as Prime Minister that had lasted for almost half a year more.