economedia.ro/ministerul-finantelor-explica-de-ce-

Romania's quarterly budget deficit rose significantly from 5.5% of GDP in Q1 to 9.2% in Q2 2026, marking the largest quarterly deterioration in the EU. The Ministry of Finance attributes this increase to the concentration of public investments and payments related to the National Recovery and Resilience Plan (PNRR) ahead of the August 31 deadline, rather than a structural change in the deficit trend. The Ministry emphasizes that the reported figures do not reflect the cumulative deficit for the year and that seasonal adjustments may not account for all irregular cash flows. Despite the increase, Romania's overall budget deficit decreased to 7.8% of GDP in 2025, indicating significant fiscal consolidation efforts. The Ministry aims for a 6.2% deficit target for 2026, contingent on maintaining budgetary discipline in the last quarter.