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Research Area

Fiscal Policy

CPAG examines Romania’s budget deficit, public debt, taxation, public revenues and expenditure, fiscal consolidation and the impact of fiscal policy on economic growth, investment, employment and competitiveness.

One Year On: Romania's Fiscal Adjustment Has Been Complicated, Only Partly Efficient, with No Support to Economic Growth. Fiscal Adjustment Needs a Reset to Jumpstart the Economy.
Analysis PaperSeptember 3, 2026

One Year On: Romania's Fiscal Adjustment Has Been Complicated, Only Partly Efficient, with No Support to Economic Growth. Fiscal Adjustment Needs a Reset to Jumpstart the Economy.

Romania’s fiscal adjustment has been complicated, only partly efficient, and has provided no support to economic growth. The first seven months of 2026 show why the 2025 fiscal package needs a reset to jumpstart the economy, compared with what CPAG proposed in June 2025.

Romania Macro Risks Report – June 2026
Research PapersJune 23, 2026

Romania Macro Risks Report – June 2026

The June 2026 edition of CPAG's Macro Risks Report updates Romania's macroeconomic risk assessment, with a focus on fiscal pressures, inflation dynamics, financing conditions, and growth vulnerabilities. It places Romania in a regional context and assesses how fiscal consolidation and external uncertainty shape the near-term outlook. The report also examines labour-market signals, external balances, public-debt dynamics, and the policy constraints facing Romania through the remainder of the year.

Research PapersEuropean Institute of RomaniaJanuary 15, 2012

Euro Plus Pact Adoption: Implications for Romanian Fiscal Policy

Strategic study on European economic governance and the implications of adopting the Euro Plus Pact for Romania's fiscal policy.