Romania’s general government budget deficit contracted by 4.2% y/y to RON 146 billion (EUR 28 billion) in 2025, according to preliminary data published by the Ministry of Finance. The deficit-to-GDP ratio contracted by 1 percentage point (pp) from 8.67% in 2024 to 7.65% in 2025, mainly driven by expenditure held under control by the executive under the package of budgetary measures legislated in December 2024. [....]