The budget deficit rose to 4.57% of GDP after the first eight months of this year, from 4.02% of GDP at seven months, according to the data sent by the Ministry of Public Finance on Friday."Execution of the general consolidated budget in the first eight months of 2024 ended with a deficit of 80.87 billion RON, respectively 4.57% of GDP, compared to the deficit of 42.19 billion RON, respectively 2.63% of GDP related to the eight months of 2023," according to the quoted source.Total revenues amounted to 375.76 billion RON in the first eight months of 2024, registering an advance of 13.7% (y/y), supported by receipts from current revenues - mainly insurance contributions, VAT, payroll tax and income, profit tax and non-tax revenues.The sums reimbursed by the European Union on account of payments made and donations totaled 22.94 billion RON, down 18.3% (year/year).On the other hand, expenses of the general consolidated budget in the amount of 456.63 billion RON increased in nominal terms by 22.5% compared to the same period of the previous year. Expressed as a percentage of the Gross Domestic Product, expenditures for the first eight months of 2024 registered an increase of 2.6 percentage points compared to the same period of 2023, from 23.2% of GDP to 25.8% of GDP.Expenditures on projects financed from non-reimbursable external funds (including subsidies from the European Union related to agriculture) were 30.9 billion RON.In the budget rectification recently adopted by the Government, the deficit for the current year was revised upwards from 5% of GDP to 6.94% of GDP. The Fiscal Council estimates, however, that the cash deficit will approach 8% of GDP in 2024.
The Grand Chamber of the European Court of Human Rights (ECHR) on December 15 ruled in favor of judge Cristi Danileţ in his case against Romania and ruled that the Romanian authorities had violated Article 10 of the European Convention on Human Rights that guarantees freedom of expression, which includes the right to hold opinions […]
Romanian car battery producer Rombat SA has been fined a total of EUR 20.2 million by the European Commission for breaching European Union competition rules, the Commission said in a decision announced on December 15. Rombat is a subsidiary of the South African automotive components group Metair. The Commission found that Rombat participated in anti-competitive […]
Romania’s industrial output rose by 0.3% y/y in October, despite a negative performance (-0.3% y/y) in the core manufacturing segment, thanks to a robust 6.6% y/y advance in the segment of utilities, according to data published by the statistics office INS. On a monthly basis, the seasonally-adjusted industrial output advanced by 0.4% m/m despite 0.5% […]
Romania’s gross external debt increased by EUR 22 billion in the first ten months of 2025 to reach EUR 225.5 billion at the end of October, equivalent to 61% of gross domestic product (GDP), according to data published by the National Bank (BNR). Long-term liabilities accounted for 78.7% of the total stock. BNR data showed […]
Romania’s current account (CA) deficit widened by 1.9% y/y to EUR 3.19 billion in October 2025, bringing the deficit in the rolling 12-month period to EUR 29.8 billion – up 9.5% y/y and at 8.2% of the GDP, according to data published by the National Bank (BNR). The CA-to-GDP ratio was 8.2% for the previous […]
Wizz Air officially reopened its base in Suceava, northeastern Romania, on Monday, December 15, marking a key step in its local expansion. With the allocation of two next-generation Airbus A321neo aircraft, the airline now operates a total of 41 aircraft in Romania, with two additional planes already announced for 2026. The reopening coincides with the […]
