Romania’s public deficit narrows marginally to 1.72% of GDP in Q3
The general government budget deficit increased by 6.5% y/y to RON 102.5 billion (EUR 20.2 billion) in January-September, according to data published by the Ministry of Finance. The deficit-to-GDP ratio narrowed slightly to 5.39% in the…
iulian ernst · Journalist
· Updated · 4 min read
The general government budget deficit increased by 6.5% y/y to RON 102.5 billion (EUR 20.2 billion) in January-September, according to data published by the Ministry of Finance. The deficit-to-GDP ratio narrowed slightly to 5.39% in the first nine months of the year, compared to 5.47% in the same period last year.
The revenues increased disappointingly in Q3, dragged down by muted consumption and slower advance of wages, while the expenditures kept rising above expectations, pushed up by (unexpected) expenditures on goods and services and higher interest on public debt. The effects of freezing wages in the budgetary sector at the level of November 2024 showed some results for the first time in the third quarter of this year.
