Public debt
Everything the state owes, built up from past deficits; paid with interest out of today's and tomorrow's taxes.
What is public debt?
Public debt, as Eurostat defines it, is the gross debt of all general government: debt securities, loans, currency and deposits. Deficits usually add to it, though other operations can change the stock too. The state borrows mainly by selling bonds, including government securities bought by the public such as Tezaur and Fidelis.
Romania's debt was 11.9% of GDP in 2007, 35.2% in 2019 and 59.3% at the end of 2025, according to Eurostat. In the first quarter of 2026 it reached 60.1%, above the 60% threshold in the EU treaties.
What matters for the budget is the cost of the debt. In 2025 general government recorded interest expense of about 54.5 billion lei, more than four times as much as in 2019. That is 8 lei per 100 lei of revenue, against an EU average of about 4 lei. Of the countries compared, only Hungary pays a larger share.
The cost depends on the rate investors demand. Romania's ten-year government bond yield averaged 6.96% in 2025, against 5.52% in Poland and 2.59% in Germany.
For every 100 lei of state revenue in 2025, interest expense on the debt was about 8 lei: money that did not reach schools, hospitals or roads.
How big is Romania's public debt?
60.1% of GDP in the first quarter of 2026, according to Eurostat, the first time above the EU treaties' 60% threshold. In 2019 it was 35.2%.
How much interest does Romania pay on its debt?
In 2025 general government recorded interest expense of about 54.5 billion lei: 2.8% of GDP and roughly 8 lei per 100 lei of revenue. The EU average is about 4 lei.
Related terms
Sources
- Eurostat, government deficit and debt (gov_10dd_edpt1, April 2026) and quarterly debt (gov_10q_ggdebt) · ec.europa.eu
- Eurostat, general government revenue and spending, interest paid (gov_10a_main) · ec.europa.eu
- Eurostat, 10-year government bond yields (irt_lt_mcby_a) · ec.europa.eu
Checked on 27 September 2026. Rules and figures can change.
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