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The 2022 budget deficit below target


Romania ended 2022 with 5.68% of GDP, which is below the estimate included in the latest budget revision and one percentage point less than the recorded amount in 2021, euractiv.com reads.


In November, the government estimated the budget deficit for the whole of 2022 at 5.74% of GDP, which was down one percentage point from the gap recorded in 2021.

Romania registered a budget revenue of RON460.1 billion (€93.6 billion) in 2022, up 21.2% in nominal terms against the previous year. Meanwhile, the budget expenditure rose 17.7% compared with 2021, to RON541.1 billion.


As a result, the budget posted a deficit of roughly RON81 billion last year. While relative to the GDP the budget deficit shrank by more than one percentage point, from 6.73% of GDP to 5.68% of GDP, in nominal terms, the gap was slightly higher than in 2021, when the budget posted a deficit of RON79.9 billion, according to the Finance Ministry data.


The government estimates a GDP of RON1,427.3 billion in 2022, compared to a GDP of RON1,187.4 billion in the previous year.