Romania Aims for Ambitious Budget Deficit Reduction
Romania's President-elect Nicusor Dan announced a target to reduce the nation's budget deficit to 7.5% of economic output by 2025, without increasing taxes. Despite running a 9.3% deficit in 2024, the largest in the EU, the country aims for a 7% deficit this year, though analysts doubt its attainability.
- Country:
- Romania
Romania is targeting a 7.5% budget deficit relative to economic output by 2025, according to President-elect Nicusor Dan. Notably, this plan excludes any new tax hikes.
In 2024, Romania's deficit was 9.3% of its output, marking the highest in the European Union.
While the country has set an ambitious goal of a 7% deficit for the current year, analysts and rating agencies suggest this may be unattainable without additional financial measures.
(With inputs from agencies.)
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- Romania
- budget deficit
- Nicusor Dan
- economic output
- 2025
- target
- EU
- analysts
- tax hikes
- 2024
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