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The state budget deficit has grown again

The state budget deficit exceeded 8.3 billion lei as of October 31, 2025, while it did not reach 7 billion lei at the beginning of October 2025, Logos Press reported.
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The state budget deficit has grown again

According to the Finance Ministry, the state budget revenues were recorded at 62.864 billion lei by early November. In October, they were 7.971 billion lei or 14.5 percent higher than in the same period of 2024.

The main component of the budget revenues, taxes and fees, increased by 14.3% and amounted to 62.065 billion lei against 54.287 billion lei in 2024. Grants more than doubled during this period (2.1 billion in 2025 and 4.4 billion in 2025). But the Customs Service (TS) and the State Tax Service (STS) remain its main executors. They transferred 33.411 billion lei and 27.390 billion lei, respectively, to the budget in the first 10 months of this year.

However, while the growth of the State Tax Service’s revenues is estimated at 14.8 per cent compared to the same period last year, the share of funds collected at the customs increased only by 6.7 per cent. While previously the revenue growth of these two agencies was approximately at the same level, the gap between them has been growing from month to month for more than a year.

Revenues from projects financed from external sources increased slightly more than in the previous months – by more than a third – from 605.4 million to 799.2 million lei.

State budget expenditures exceeded 71.200 billion lei in January-October. During the analyzed period, they increased by 8.038 billion lei (+12.7%) and by 8.336 billion lei were higher than the revenues. The biggest increase was in transfers (almost 5 billion lei).

The difference between revenues and expenditures was covered by internal borrowings – 9.634 billion lei and external borrowings – 3.169 billion lei.


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