The ESA [European System of Accounts] budget deficit in 2026 is estimated at 6% of GDP, with it set to reach 3.2% of GDP in 2029 and comply with European regulations in 2031, according to the Report on the macroeconomic situation for 2026 and its projection for 2027 - 2029.
"Romania has proposed a budgetary-structural plan of measures that includes the reforms and investments undertaken, with an emphasis on highlighting the impact on budgetary revenues and expenditures, which will ensure the decrease of the budgetary deficit below 3% by 2031. Thus, in the next period Romania will adopt viable measures to reduce the structural deficit, taking into account both the increase in the share of fiscal revenues in GDP and the efficiency of budgetary expenditures," according to the document published by Ministry of Finance.
Budget revenues projected for 2026 represent 36% of GDP, to decrease to 33.7% of GDP in 2028, and to reach 33% of GDP in 2029, an evolution determined by the evolution of macroeconomic indicators over the reference horizon and by the measures/provisions adopted so far through normative acts, which cause them to increase their nominal value.
Budget expenditures projected for 2026 represent 42.3% of GDP, reaching 36.2% of GDP in 2029, decreasing as a percentage of GDP in order to gradually reduce the budget deficit, explains the Ministry of Finance in the cited report.
"The 2026 budget planning and the estimates for the period 2027-2029 maintain their commitment to adjusting the budget deficit through a sustainable and balanced consolidation effort, which does not affect the capacity to support the economy and promote investments, aiming to continue efforts to improve revenue collection," the document states.
Taking into account the forecasted level of budget deficits for the period 2026 - 2029, as well as the current forecasts of macroeconomic indicators, the Ministry of Finance estimates that, at the end of 2026, the share of gross government debt will be at the level of 61.8% of GDP.
The ECOFIN Council launched an excessive deficit procedure (EDP) against Romania on 3 April 2020 because the country recorded high public deficits, which exceeded the 3% reference value established in the treaties.
Comentează