Romania’s public debt hits 54.3% of GDP at end-Nov 2024

Romania’s public debt reached RON 937 billion (EUR 188.3 billion) at the end of November 2024, according to data published by the Finance Ministry.

The debt-to-GDP ratio reached 54.3%, based on the latest four-quarter GDP available (RON 1,725 billion as of the end of September), up from 54.0% at the end of October and 48.8% at the end of 2023.

Romania’s public debt thus rose by EUR 30.8 billion in January-November, well above the EUR 25.9 billion leap during the COVID-19 pandemic year when the government’s revenues plunged, forcing it to borrow to provide fiscal stimulus.

The public debt denominated in local currency reached 45.8% of the total after an 18.9% ytd advance. The debt denominated in euros rose by 15.9% ytd and reached 41.2% of the total. The debt denominated in US dollars grew by 44% ytd to reach 10.3% of the total, thanks to several USD-denominated issues in 2024.

Romania resumed Samurai bonds, and consequently, the debt denominated in other currencies soared by 94% y/y to a still modest share of 0.2% of the total.

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