The execution of the general consolidated budget in 2025 ended with a cash deficit of 146.03 billion lei, respectively 7.65% of GDP, down by 1 percentage point compared to the deficit recorded in 2024, of 8.67% of GDP, the Ministry of Finance announced on Tuesday. In value, however, the deficit, i.e. the difference between state revenues and expenses, decreased by only about 6.7 billion lei, from 152.7 billion lei in 2024 to 146 billion lei last year.
The total result of the freezing of pensions, salaries, the non-granting of holiday vouchers for budget workers, the obligation to pay medical insurance for those with pensions over 3,000 lei (CASS of 10.5% of the gross income applied to the part over 3,000 lei), the increase in VAT, excise duties, the abandonment of the capping of electricity tariffs and the total of the other measures taken by the governing coalition had as a final result, accountant, reducing the “budget hole” by only about 1.2 billion euros, the total deficit being almost 50 billion euros.
It should be noted that the invoice to the banks had an explosive increase, on account of the past credits used for the deficits of previous years: plus 40%, i.e. 14 billion lei increase, from 36 billion to 50 billion lei.
The official budget execution, presented by the Ministry of Public Finance:
According to the Ministry of Finance, the financial data confirm the effectiveness of the measures adopted by the Government of Romania, the budget deficit being reduced compared to the previous year, in the conditions of an increase in revenues and the direction of resources towards record investments financed massively from non-reimbursable European funds.
“The financial data confirm the effectiveness of the measures adopted by the Government of Romania, the budget deficit being reduced compared to the previous year, in the conditions of an increase in revenues and the directing of resources towards record investments financed massively from non-reimbursable European funds. The revenues of the general budget amounted to 662.70 billion lei in 2025, an increase of 15.3% compared to 2024. (…) The expenses, in the amount of 808.73 billion lei, were managed with a rigorous discipline, especially in the second semester”, it is stated in the ministry’s press release.
“The results of the budget execution for the year 2025 mark the end of the year characterized by massive investments financed from non-reimbursable funds, doubled by fiscal discipline. We managed to reduce the cash deficit by one percentage point, at the same time ensuring record amounts for investments and we honored the salary commitments in critical sectors such as Health, the payment of medical leaves and for medicines. We also succeeded in reversing the structure of investment financing, by increasing the weight of those financed from European funds, in relation to those from national funds. This performance is the direct result of the firm administrative measures taken in the second part of the year and the renegotiation of the PNRR, through which we moved a number of projects from the loan component to the grant component.” explained Alexandru Nazare, Minister of Finance.
