October 26, 2026 UPDATE
A roundup of local and international news
Newsroom, 26.10.2026, 20:00
ELECTIONS The president of Romania Nicuşor Dan Monday congratulated the Serbian nation and the Student List movement on winning Sunday’s parliamentary elections, which saw the highest voter turnout in decades. The Romanian official posted on social media that the authorities in Bucharest are prepared to work with the new government in Belgrade toward “an even stronger partnership.” Former president Aleksandar Vučić, who leads the Progressive Party, has conceded defeat. The opposition Student List secured nearly 140 parliamentary seats out of a total of 250, while Vučić’s party will not have more than 105. The result is a personal defeat for Vučić, who, staying true to his populist rhetoric, blamed the independent media, unnamed European countries, and what he termed the American ‘deep state.’ In neighboring Bulgaria, the interim president Iliana Iotova won the first round of the presidential election and will face the former interim PM Andrei Ghiurov in the runoff. According to exit polls, Iotova won between 35% and 36.5% of the votes, while Ghiurov received a maximum of 32.5%, amid a low voter turnout. Iotova is backed by the political faction of PM Rumen Radev and has pleaded for dialogue with Russia, whereas Ghiurov is supported by the pro-European opposition.
DEFICIT Romania’s budget deficit decreased by approx. EUR 4.48 billion in the first 9 months of this year compared to the same period in 2025, reaching approx. EUR 16.6 billion. According to the finance ministry, this deficit accounts for 3.81% of the GDP. The trend was driven by a nearly 12% increase in revenues, while public expenditures saw a much smaller rise, around 6%. Personnel expenditure fell by EUR 748 million, whereas public investments grew significantly, exceeding EUR 20 billion.
BUDGET The budget for next year must be based on what can actually be financed, and priorities must be set in a transparent, responsible, and strategic manner, Romania’s finance minister Alexandru Nazare said on Monday. In his view, Bucharest cannot afford fiscal slips that would keep pressure on financing costs and increase the risk of unfavorable decisions by rating agencies. A prospective worsening of the sovereign credit rating could lead to more expensive borrowing for the government, higher financing costs for companies and indirectly for citizens, as well as to lower resources available for development, Nazare explained. Also on Monday, PM Luca Niculescu met with the National Bank governor Mugur Isărescu, to discuss the dynamics of foreign financing, the state of the banking sector, and the economic development prospects. Later on, the PM and economy-related ministers met with the business community to find out what they expect from the new government in the coming period. Business leaders called for tax cuts and funding for the SME Invest programme, which provides bank loans for small and medium-sized enterprises. They also called on the PM to refrain from raising minimum wages in 2027. Fiscal consolidation cannot be achieved indefinitely through tax hikes, the Prime Minister stated, and argued that investors need a government that acts as a fair partner, ensuring both predictability and means for development.
VISIT Romania’s new PM Luca Niculescu will be on an official visit to the Republic of Moldova on Tuesday, his first trip abroad since taking office. According to a statement from the government, the Romanian official’s agenda includes meetings with president Maia Sandu, PM Vasile Tofan, and the Parliament speaker Igor Grosu. The talks will focus on joint projects and cooperation between the two states, within the context of the consistent support that the government of Romania provides to the Republic of Moldova, the statement reads.
AGRICULTURE Romania’s minister of agriculture and rural development Florin Barbu attends the Agriculture and Fisheries Council meeting in Luxembourg until Tuesday. According to a ministry news release, talks focus on issues of major importance for the future of European agriculture and farmers, specifically the post-2027 Common Agricultural Policy (CAP), trade developments in the agricultural sector, and the setting of fishing opportunities in the Baltic Sea. Participants will also draft the EU’s position ahead of the annual meeting of the International Commission for the Conservation of Atlantic Tunas (ICCAT), which takes place in Portugal this November. (AMP)
