Romania Draws on FX Reserves Amid Political Crisis and Budget Deficit Woes

Romania has utilized its foreign exchange reserves to handle a surge in payments amounting to approximately €6 billion ($6.3 billion) in the past two months due to escalating political tensions that have affected investor confidence.

The Finance Minister, Marcel Bolos, has indicated that the country's budget deficit, which was already projected to be the highest among EU member states this year, is expected to surpass the government's target of 7% of economic output.

The increase in Romanian bond yields, caused by the political crisis triggered by the unexpected success of a pro-Russian candidate in the first round of the presidential election, highlights the challenges faced by the Romanian economy in the face of growing political uncertainty and its impact on fiscal stability.

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