The execution of the general consolidated budget in the first seven months of 2026 ended with a deficit of 48.08 billion lei, 28.36 billion lei lower than the deficit worth 76.44 billion lei recorded in the same period of 2025, representing a nominal reduction of 37%, according to data the Finance Ministry (MF) released on Monday.
As a share of GDP, the deficit fell from 3.99% to 2.34%, an improvement of 1.65 percentage points. The development confirms the continuation of the fiscal and budget consolidation process, supported by higher revenues and a moderate pace of public spending.
The structure of this adjustment is also important. Budget revenues increased 11.2%, while total expenditure rose just 2.9%. At the same time, investment continued to grow. Thus, the reduction in the deficit was not achieved by halting investment but through better control of current expenditure and higher revenues, the Finance Ministry said.
'The seven-month data show that we are consistently maintaining the downward trend in the budget deficit and stabilising public finance. The 1.65 percentage point reduction in the deficit is evidence of balanced management, combining fiscal responsibility with direct support for the economy. We have continued VAT refunds without interruption, returning more than 20.4 billion lei to companies to provide them with the liquidity they need, and have prioritised the allocation of resources to the main pillars of development, where investment from European funds and the National Recovery and Resilience Plan (PNRR) has registered an over 60% advance. As we consolidate this healthier foundation for public finance, the next step is to turn stabilisation into healthy and sustainable economic growth,' interim Finance Minister Alexandru Nazare said. AGERPRES (RO - writing by: George Banciulea; EN - writing by: Adina Panaitescu)
Budget deficit falls to 2.34pct of GDP in first seven months of 2026
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