The BNR signals high risks for the financial stability of Romania, due to large budget deficits and a tense global economic climate.

The National Bank of Romania (BNR) published a report in December 2025, warning about significant risks to the financial stability of the country. Large budget deficits and internal imbalances contribute to this pressure, in the context of an economy that is moving slowly, with a growth of only 0.3% in the second quarter and estimates of 1.6% for the third quarter.

The fiscal measures adopted by the Bolojan Government, aimed at reducing the deficit, limit consumption and investments, and the economic growth forecasts have been revised downwards by the European Commission and the IMF. The budget deficit reached 102.5 billion lei in the first nine months of 2025, and public debt rose to 57.2% of GDP.

BNR emphasizes that maintaining this direction may affect investor confidence, leading to higher financing costs and volatility in the foreign exchange market. European funds are seen as a solution for Romania, and the state must accelerate their absorption.