budget deficit

Moldova’s total state budget revenues for the eleven months of 2025 amounted to just over 68.8 billion lei, up 14.4% (about 8.65 billion lei) compared to the same period of 2024, Logos Press reported.

Economic stagnation continues. Even the 5.2% GDP growth in the third quarter, thanks to a successful agricultural year, cannot refute this thesis. Even if the economy returns to positive territory by the end of 2025 (+2% GDP for the first three quarters), this acceleration will not allow for a full recovery from the 2022 downturn. Experts speak of a “technical recession” and “recovery growth,” noting the limited potential of the current development model, based on consumption and dependent on the vagaries of the weather, including political weather.

The main problem with the 2026 budget is the cost of domestic debt. At the same time, the government expects to maintain the planned deficit so as not to stop investments that may be made next year, according to Logos Press.

The state budget deficit for 2026 (21 billion lei) is planned to be covered also from domestic sources through the net issuance of government securities on the primary market, but the exact amount to be raised by this method is not mentioned, Logos Press reported.

“A “responsible investment budget” with a “healthy” deficit was approved by the Moldovan government at an extraordinary meeting on Thursday, December 4,” Logos Press reported.

Despite the huge budget deficit, the National Bank of Ukraine is confident that international aid to the country will be enough to keep the printing press running, Logos Press reported.

The state budget execution at the end of September ended with a deficit of about 7 billion lei against 7.5 billion lei at the end of August, thanks to the outpacing growth of the revenue side, Logos Press reported.

The cumulative effect of the EU countries from the introduction of a wealth tax could amount to 67 billion euros and help to solve the problem of budget deficit of many states, – reports Logos Press.

In January-June 2025, the revenues of the national public budget increased by 16% compared to the first half of last year and exceeded 60.5 billion lei, Logos Press reported.

In just one month – in June 2025. – the state budget deficit increased by 2 billion lei. According to the Finance Ministry’s report, the state budget execution at the end of the first half of 2025 ended with a deficit of 7.6 billion lei, while at the end of May it amounted to 5.6 billion lei.

The deficit of the National Public Budget for the first five months of 2025 reached 5,609, 4 million lei, although at the end of the first quarter it amounted to only 300 million lei, Logos Press reported.

The share of external and internal borrowings and grants in the state budget of last and this year reached 31%. This is 10% more than on average in 2013-2020. Such statistics is given by the former chairman of the parliamentary commission on economy, budget and finance Volodymyr Golovatyuk, commenting on the results of budget execution for four months of the current year. The report as of April 30, 2025 was released by the Finance Ministry late last week.