Romania's budget deficit rises to 4.54% of GDP by August 2025

Business Forum

30 September, 2025 at 8:58 AM

Romania's consolidated budget deficit has widened to 4.54% of GDP after the first eight months of 2025, an increase from the 4.04% reported in July 2025, according to recent data from the Ministry of Finance.

The deficit reached a total of RON 86.36 billion (€17.4 billion), compared to RON 80.87 billion (€16.3 billion) from the same period last year, which was 4.59% of GDP.

Earlier this month, Romania agreed with the European Commission to close the year with a deficit of 8.4% of GDP.

The Ministry noted a growth in total revenue, which amounted to RON 420.11 billion (€84.8 billion) in the first eight months of the year, marking an 11.8% increase year-on-year. As a percentage of GDP, revenues saw a rise of 0.74 percentage points, driven by increases in taxes on salaries, income, insurance contributions, and excise duties, as well as European funds.

In parallel, expenditures of the consolidated general budget reached RON 506.47 billion (€102.3 billion), a 10.9% nominal increase from the previous year. Expenditures as a percentage of GDP grew by 0.7 percentage points, from 25.9% to 26.6%.

Investment-related expenditures, which include both capital expenses and development programmes, stood at RON 71.95 billion (€14.5 billion), an increase of 10.65% compared to the same period in 2024.

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