Romania's deficit, in significant decrease. Eurostat announces the figures of the first quarter

The deficit of Romania has spent spectacular, from 9.6% of GDP in the last quarter of last year, to 7.5% in the first quarter of 2025, according to data published Monday by the European Eurostat Statistics Office.

Romania's deficit decreased spectacularly, by about 2% in a few months

In the first quarter of 2025, the seasonal generally adjusted public deficit report in GDP was 2.9% in the euro area (EA20) and in the EU. In the first quarter of 2025, the deficit/GDP relations in the euro and EU area decreased compared to the fourth quarter of 2024.

In the first quarter of 2025, the total public revenues in the euro area amounted to 46.6% of GDP. The decrease, compared with 46.7% in the fourth quarter of 2024, was mainly due to an increase in total public revenues adjusted in absolute terms, which was exceeded by an increase in nominal GDP. In absolute terms, the total revenues adjusted seasonally in the euro area increased by approximately EUR 11 billion compared to the fourth quarter of 2024. The total public expenses in the euro area amounted to 49.5% of GDP, a decrease compared to the previous quarter, as a result of a modest increase of the total public spending by approx. nominal.

In the EU, the total revenues of the government were 46.2% of GDP in the first quarter of 2025, unchanged from the previous quarter. Total revenues adjusted seasonally in the EU increased by approximately 21 billion euros compared to the fourth quarter of 2024. Government's total expenses were 49.1% of GDP, a decrease compared to 49.5% of GDP in the previous quarter. The total seasonally adjusted expenses increased by about 5 billion euros compared to the previous quarter.

Specifically, the provisional data of Eurostat shows that the top of the member countries with the highest government deficits is led by Romania, with a minus of 7.5% of GDP, followed by France, 5.6% of GDP, and Belgium, 5.5% of GDP.

At the opposite end is Cyprus, a country that in the first quarter of this year registered a government surplus of 5.6% of GDP, followed by Greece, with a surplus of 4.2% of GDP.

The public debt of Romania, half as a percentage of that of France

Regarding public debt, Eurostat data places us in 16th place in the Member States ranking with 55.8% of GDP in the first quarter of this year

The largest relations between public debt and GDP at the end of the first quarter of 2025 were registered in Greece (152.5%), Italy (137.9%), France (114.1%), Belgium (106.8%) and Spain (103.5%), and the smallest ones were registered in Bulgaria (23.9%), Estonia (24.1%), Luxurg (26) Denmark (29.9%).

Compared to the fourth quarter of 2024, sixteen Member States registered an increase in the debt-pib report at the end of the first quarter of 2025, ten registered a decrease, and the report remained stable in the Czech Republic. The largest increases in the report were observed in Austria and Slovakia (both +3.5 percentage points – PP), Slovenia (+2.9 pp), Italy (+2.5 pp), Lithuania (+2.4 pp), Poland (+2.2 pp) and Belgium (+2.1 pp). The biggest decreases were recorded in Ireland (-3.7 pp), Latvia (-1.2 pp) and Greece (-1.1 pp).

Compared to the first quarter of 2024, thirteen Member States registered an increase in the debt-pib report at the end of the first quarter of 2025, twelve Member States registered, and the report remained stable in Slovenia and Estonia. The biggest increases in the report were recorded in Poland (+6.1 pp), Finland (+5.1 pp), Austria and Romania (both +4.1 pp), France (+3.6 pp), Italy (+2.9 pp), Slovakia (+2.6 pp) and Sweden (+2.0 pp). The highest decreases were observed in Greece (-9.3 pp), Cyprus (-8.2 pp), Ireland (-6.1 pp), Croatia (-3.6 pp), Denmark (-3.2 pp), Spain (-2.8 pp) and Portugal (-2.7 pp).