The report on financial stability published by the BNR in December 2025 shows a tense economic landscape, with major systemic risks, including geopolitical instability and internal macroeconomic imbalances. These vulnerabilities are fueled by external and internal uncertainties, and the banking sector, although resilient, faces a volatile environment. The Romanian economy grew by only 0.3% in Q2 2025, and international forecasts suggest a slowdown in growth between 0.7% and 1% for the current year.
High twin deficits represent a significant internal risk, with a budget deficit of 102.5 billion lei (5.4% of GDP) in the first nine months of the year. Although the adopted fiscal measures will have a limited impact in 2025, the BNR emphasizes the need for fiscal adjustment to stabilize public debt, which has reached 57.2% of GDP, and to reduce external imbalances. Fiscal adjustments are essential for maintaining budgetary stability and for improving the country’s rating.
High twin deficits represent a significant internal risk, with a budget deficit of 102.5 billion lei (5.4% of GDP) in the first nine months of the year. Although the adopted fiscal measures will have a limited impact in 2025, the BNR emphasizes the need for fiscal adjustment to stabilize public debt, which has reached 57.2% of GDP, and to reduce external imbalances. Fiscal adjustments are essential for maintaining budgetary stability and for improving the country’s rating.
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