Romania cuts public deficit by 41% y/y to 2% of GDP in H1

27 July 2026 Romania’s general government budget posted a deficit of RON 41 billion (EUR 7.8 billion) in the first half of 2026, which was 41% less than in the same period of 2025. The deficit-to-GDP ratio dropped to 2% of GDP, from over 3.6%, setting the grounds for robust fiscal consolidation this year – when the full-year deficit is planned at 6.2% of GDP, down from 7.6% in 2025. Interim finance minister Alexandru Nazare said the first-half fiscal results send a positive signal ahead of upcoming sovereign credit assessments by Fitch Ratings and Moody's, but stressed that preserving Romania's investment-grade rating depends on continued fiscal consolidation, implementation of the National Recovery and Resilience Plan (PNRR), and political stability, Ziarul Financiar reported. Fiscal cons