Romania's debt-to-GDP ratio falls back under 60% after revised GDP data

Revised GDP data released by the national statistics office lowered Romania's debt-to-GDP ratio to 59.8% for the end of July 2026, according to calculations. This marks a drop from 60.4% in June and brings the ratio back under the 60% limit that triggers mandatory debt-reduction measures. The ratio rose by only 0.9 percentage points since the end of 2025, a slower pace than the 4.1-point jump in 2025 and the near 6-point increase in 2024.

The entire increase in public debt was due to borrowing in foreign currencies, mainly euros, while debt denominated in Romanian lei changed negligibly. Domestic-currency debt accounted for 44% of total debt at the end of July, standing at RON 536 billion, up just 0.03% from the previous year. Short-term public debt declined to roughly RON 60 billion, still higher than the RON 50 billion recorded at the end of 2023.