Economic developments during September 21–28 highlighted both the growing pressure on businesses and new investment opportunities.
From October 1, Romania’s road-charging system for freight vehicles over 3.5 tonnes will change fundamentally: under TollRo, trucks will pay according to the distance travelled and their emissions. Meanwhile, the euro reached a new historic high against the leu, first-half insolvency proceedings rose to their highest level in eight years, and the budget deficit fell substantially even as interest expenditure continued to increase. Jumbo is transforming a closed Romanian factory into a regional distribution centre, while Romania’s first AI Factory infrastructure could become operational by mid-2027. Two notable developments also emerged for Transylvania and Székelyföld: a new regional startup investment fund of more than €8 million is being launched, while a retail park in Miercurea-Ciuc has been acquired by a foreign investor.
1. Insolvency proceedings reached an eight-year high: In the first eight months of 2026, 4,782 companies and sole traders entered insolvency proceedings in Romania, compared with 4,561 during the same period a year earlier, an increase of 4.85%. The situation was particularly difficult in the first half of the year: between January and June, 3,855 new proceedings were opened, 12.36% more than in the same period of 2025 and the highest first-half figure recorded in eight years.
Another warning sign is that a significant proportion of businesses in difficulty begin insolvency proceedings only at a late stage, when there are already few options left to save the company. In the first half of the year, 46,283 companies were also deregistered, 6% more than a year earlier. Construction, agriculture, trade and transport are among the particularly vulnerable sectors, showing that the problem is not concentrated in a single part of the economy.
2. The budget deficit fell to 2.89%, but interest expenditure has already exceeded RON 42 billion: In the first eight months of the year, Romania’s consolidated budget deficit stood at RON 59.42 billion, equivalent to 2.89% of GDP. During the same period a year earlier, it was RON 86.36 billion, or 4.51% of GDP. In nominal terms, the deficit therefore fell by almost 31%, or RON 26.94 billion. Budget revenues increased by 11.4%, while expenditure rose by 4.2%.
Despite the improved deficit figure, financing costs remain a significant burden. The government spent RON 42.05 billion on interest, 26.7% more than a year earlier. At the same time, investment expenditure rose from RON 71.95 billion to RON 97.05 billion, with almost 70% linked to EU funding. Romania’s full-year 2026 deficit target is 6.2% of GDP.
3. The euro reached a historic high and financing became more expensive again: On September 23, the National Bank of Romania published an exchange rate of RON 5.2788 per euro, setting a new historic record. This exceeded the previous high of RON 5.2688 reached on May 6. The following day, the rate eased slightly to RON 5.2770, but the three-month ROBOR rose from 5.85% to 5.93%.
Romanian government bond yields also moved higher: the yield on ten-year bonds reached 7.2% during the week and subsequently moved above 7.5%. This matters to businesses as well, because higher government financing costs tend to put upward pressure on bank lending and corporate bond financing. Exchange-rate movements also directly affect euro-denominated imports, rents, loans and contracts.
4. TollRo starts on October 1: trucks will pay according to the kilometres travelled: Romania’s road-use charging system is set to change fundamentally. For freight vehicles weighing more than 3.5 tonnes, the existing time-based rovinieta will be replaced by TollRo, with charges based on distance travelled and vehicle emissions. For vehicles up to 3.5 tonnes, the rovinieta will remain in place, although its price will also take the EURO emissions class into account.
Under the current regulations, the new system is due to take effect on October 1, while the separate bridge tolls associated with the old system will be abolished. Transport organisations have nevertheless requested either a delay or at least an initial suspension of penalties, as implementation rules were discussed only shortly before the launch. The change could particularly affect the costs of transport, construction, agricultural and wholesale businesses.
5. Jumbo is buying the closed Haier factory and turning it into a distribution centre of more than 60,000 square metres: Greek retailer Jumbo is close to completing the purchase of the former Haier refrigerator factory near Ploiești, which closed last year. The approximately 63,000-square-metre plant, built in 2021 at a cost of more than €70 million, will become a regional logistics centre serving both Romanian stores and Jumbo’s online sales in Hungary. More than 500 jobs were lost when the Haier factory closed.
This is already Jumbo’s second acquisition of a former Romanian factory property within a few months. It previously bought the former Habitex plant in Baia Mare, where a new hypermarket is planned. The company currently operates 20 stores in Romania and intends to double its network over the longer term. Particularly notable is the fact that Jumbo is accelerating investment at a time when its Romanian sales fell by 6.5% in the first half of the year to €90.11 million.
6. Romania’s first AI Factory infrastructure could be completed by mid-2027: Under the RO AI Factory project, officially launched in September, tens of millions of euros worth of high-performance computing infrastructure will be installed in Romania. According to current plans, the system could become fully operational between April and June 2027. The high-performance computing infrastructure will be hosted by ICI București, with the National University of Science and Technology POLITEHNICA Bucharest and other research, education and business organisations also involved.
The aim is not simply to build another data centre, but to create an ecosystem in which public institutions, universities, research institutes and private companies can develop and test artificial-intelligence applications. The project is particularly significant because Romania still ranks near the bottom of the EU in the use of AI by businesses.
7. Romania’s e-commerce market has grown to €12.9 billion: The Romanian online retail market reached €12.9 billion in 2025, 10% higher than a year earlier. Compared with 2021, the market has practically doubled in size. European e-commerce as a whole expanded by 7% last year to €911 billion.
The growth of Romania’s market no longer concerns only major online retailers. More traditional businesses are operating their own webshops or selling through marketplaces, while logistics, electronic payments and cross-border sales are developing rapidly. At the same time, low-cost parcels arriving from outside the EU, taxation and consumer-protection requirements, and increasingly strong international competition are creating new costs for domestic retailers.
8. A new €8 million-plus investment fund is being launched for Transylvanian startups: On September 30, the regional venture-capital fund Asternova Centru will be launched in Brașov with total resources of €8.061 million. Of this amount, €7.058 million is being provided by ADR Centru from public funds as the anchor investor. The fund targets early-stage technology companies in Alba, Brașov, Covasna, Harghita, Mureș and Sibiu counties.
The fund can invest between €50,000 and €350,000 in an individual company and plans to build a portfolio of around 40 startups. For Székelyföld, this is particularly noteworthy because technology businesses in Harghita and Covasna counties will gain direct access to a source of capital specifically designed for Romania’s Central Region, rather than relying solely on national or Bucharest-focused financing schemes.
9. The Nest retail park in Miercurea-Ciuc changed hands in a transaction worth around €40 million: Czech group Star Capital Finance entered Romania’s real-estate market by acquiring the Nest retail parks in Miercurea-Ciuc and Moinești. It paid former owner RC Europe approximately €40 million for the two properties combined. Star Capital Finance manages assets worth more than €930 million and plans further expansion in Romania.
From a local perspective, the transaction is noteworthy because the Miercurea-Ciuc retail park is now owned by a new foreign investor building a regional property portfolio. The €40 million figure represents the combined purchase price of both parks, not the value of the Miercurea-Ciuc property alone. Nevertheless, the transaction indicates that well-performing retail properties in smaller Transylvanian cities can remain attractive to international investors even in a weaker consumer environment.
10. Job candidates ask for an average net salary of RON 7,000, while companies offer RON 5,400: According to a 2026 Romanian salary survey, job candidates expect an average net salary of RON 7,000, while the average amount offered by employers is approximately RON 5,400. The gap of almost 30% is even greater in some sectors: it reaches 42% in energy engineering and around 40% in banking and real estate.
Romania’s total hourly labour cost, however, is only €13.6, compared with an EU average of €34.9. This illustrates the dual nature of the labour market: Romania remains a relatively low-cost labour market internationally, while businesses are finding it increasingly difficult to reconcile employee salary expectations with their own budgets. The mismatch is particularly acute for skilled professionals and occupations facing labour shortages.
Summary
The figures from September 21–28 illustrate the current duality of Romania’s economy. The highest level of insolvency proceedings in eight years, the euro reaching a historic high and rising financing costs all show the growing pressure on businesses. At the same time, the budget deficit has fallen considerably and public investment has continued to rise. The introduction of TollRo in October will create another direct cost and administrative change, particularly for transport and freight businesses.
At the same time, significant longer-term investments are taking shape. Jumbo is turning a closed factory into a regional logistics hub, Romania’s first AI Factory could bring tens of millions of euros worth of technology infrastructure, and online commerce is already a market worth almost €13 billion. In Transylvania, Asternova Centru opens a new source of capital for startups, while the change of ownership at Nest Miercurea-Ciuc shows that commercial properties in Székelyföld can also become attractive assets for international investors.
As a number of major economic developments are continuing in parallel, readers interested in any particular subject are encouraged to search for the relevant terms online to access further analysis and additional details.
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