This study presents an internal analysis by AmCham Romania on the country’s macroeconomic and fiscal developments during the first half of 2025, while also providing an outlook on key expected trends. It covers economic growth and sectoral dynamics (from both the demand and expenditure perspectives), also addressing labor market trends, monetary and capital market developments, as well as the evolution of the twin deficits.

The analysis primarily covers the first half of 2025, with a few extensions into July, August or September 2025, as well as occasional references to earlier data, where relevant for context or comparison. Additionally, a forward-looking perspective is provided through the inclusion of projections for the full year 2025 and, in some cases, for 2026, to highlight anticipated developments and trends.

Author: Ioana Gavril, Senior Advocacy & Macro Lead – AmCham Romania