State budget revenues for next year are projected at 71.5 billion lei, a 6.8% increase compared to 2024, while expenditures are estimated at 85.4 billion lei, up by 4.1% compared to the previous year. The state budget deficit is expected to total 13.8 billion lei, representing 4% of the Gross Domestic Product (PIB). These figures are outlined in the draft budget for the upcoming year, developed by the Ministry of Finance, IPN reports.
"For 2025, the macroeconomic forecast scenario predicts a 3% real increase in GDP compared to 2024, with a nominal volume of 348.4 billion lei. This growth is driven by relatively favorable developments in the national economy and reflects several factors", states the draft budget, which is currently open for public consultation.
Key factors include an increase in private consumption as a result of monetary policy relaxation and projected wage increases. Additionally, the resumption of economic lending is expected to positively impact investment growth during the forecast period. The relative recovery of trading partners' economies will stimulate foreign trade, while inflation control and medium-term fiscal consolidation will promote sustainable growth.
Macroeconomic projections for 2025 suggest a continued recovery trajectory, with PIB growth projected at approximately 2.5-3%. This growth is attributed to improvements in the agricultural and industrial sectors, as well as stronger domestic consumption and investment.
Inflation is expected to stabilize around 5% and remain at this level until the end of the forecast period. This stabilization is attributed to monetary policies focused on price stability, particularly for food and fuel, as well as efforts to ensure energy security and mitigate geopolitical risks.
The 13.8 billion lei deficit will be financed through both internal and external sources. Internal sources include actions such as the sale of state-owned public assets, re-lending to non-financial and financial institutions, and net issuance of government securities in the primary market.
External sources are expected to include foreign loans for budget support and the implementation of externally funded projects.
