Romania: public finances

What is Romania's budget deficit in 2026?

Romania's general government budget ran a deficit of 59.42 billion lei in January to August 2026, 2.89% of GDP, compared with 86.36 billion lei (4.51% of GDP) a year earlier, according to the Ministry of Finance's budget execution release. Revenue rose 11.4% and spending 4.2%.

The Ministry reports budget execution monthly on a cash basis on its budget execution page. The deficit for the full year under EU accounting rules (ESA 2010), which Eurostat publishes, is usually higher than the cash figure for the first eight months.

Official sources: budget execution release · budget execution page

How much public debt does Romania have?

Romania's general government debt was 59.3% of GDP at the end of 2025, up from 54.8% in 2024 and 49.3% in 2023, according to Eurostat's government deficit and debt table. The deficit in 2025 was 7.9% of GDP, after 9.3% in 2024.

Debt is measured under the EU's Maastricht definition at face value. Large deficits have raised the debt ratio by 10 percentage points in two years. The Ministry of Finance publishes debt in lei and by instrument in its public debt statistics.

Official sources: government deficit and debt table

How much tax does Romania collect?

Romania's tax revenue was 242.69 billion lei in January to August 2026, 14.3% more than a year earlier, according to the Ministry of Finance's budget execution release. VAT brought in 103.35 billion lei, up 25.2%, wage and income tax 42.86 billion and corporate profit tax 29.55 billion.

Social security contributions added 147.53 billion lei. Total revenue rose from 21.9% to 22.8% of GDP. Funds from the EU and other donors added 43.38 billion lei.

Official sources: budget execution release

What is Romania's government debt?

The latest figure from the IMF, for 2025, is 60.4% of GDP. That is the highest since at least 2005. It is 16th highest of 51 in Europe & Central Asia, where the median is 46.9% of GDP. World rank, highest first: 72nd of 185.

Does Romania's government borrow more than it raises?

-7.6% of GDP: that is general government net lending or borrowing in Romania for 2025, according to the IMF (a deficit). Since 2005 it has ranged from -9.6% of GDP (2020) to -0.7% of GDP (2005). It is 50th highest of 51 in Europe & Central Asia, where the median is -2.4% of GDP. Of 188 countries with 2025 data, 173rd highest.

How much revenue does Romania's government raise?

32.7% of GDP: that is general government revenue in Romania for 2025, according to the IMF. The peak was 32.8% of GDP in 2015 and the low 28.2% of GDP in 2017. Europe & Central Asia median: 41.3% of GDP; Romania is 38th highest of 50. Worldwide: 66th of 187.

How big is Romania's government spending as a share of GDP?

In 2025, general government spending in Romania was 40.3% of GDP, according to the IMF. It is the top of the series, which starts in 2005. Europe & Central Asia median: 43.3% of GDP; Romania is 31st highest of 50. World rank, highest first: 51st of 186.

What is tax revenue in Romania?

16.2% of GDP: that is central government tax revenue in Romania for 2024, according to the IMF. The peak was 18.9% of GDP in 2015 and the low 14.2% of GDP in 2020. Across Europe & Central Asia the middle value was 20.8% of GDP, and Romania placed 35th highest of 42. Of 92 countries with 2024 data, 55th highest.

How much does Romania spend on its military?

In 2025, military spending in Romania was 2.3% of GDP, according to SIPRI. No year since 2005 has been higher. Across Europe & Central Asia the middle value was 2.0% of GDP, and Romania placed 18th highest of 46. Of 149 countries with 2025 data, 45th highest.