WOOD Flash – Romania macro: discussing a new fiscal package with the EU
As per media articles yesterday (2 July), the Romanian government is now discussing a new set of fiscal measures with the European Commission. Below, we summarise the main points reported by the local media and compare them with the initial coalition plan, which was unveiled last week. The measures are significant in both size and structure, and they mark a clear step-up in the government’s effort to address the persistent budget gap and align with the EU’s deficit targets. So, if implemented fully, the package puts Romania on track to just about meet the EU’s consolidation path; however, the political cost and the growth hit are significant. For 2025E, the announced package should put the deficit comfortably around the area of 7-8%, if implemented fully. For 2026E, the deficit would be reduced to about 5%, if no slippage occurs.
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