The Republic of Moldova’s consolidated central budget ended September 2026 with a surplus of 1,443.0 million lei, following a deficit of 580.0 million lei in August, according to the SDDS report published by the Ministry of Finance (MoF) on 28 October 2026. In the same month, state debt increased by 2.63 billion lei to 150.36 billion lei.
In brief
The consolidated central budget’s revenues totalled 11,355.9 million lei in September 2026, while spending amounted to 9,912.9 million lei, according to the Ministry of Finance.
September 2026 was the second month this year to post a surplus, after July (320.4 million lei), and the month with the largest positive balance in 2026, according to the MoF’s monthly SDDS reports.
Gross central government debt reached 150,361.17 million lei as of 30 September 2026, up 2,631.6 million lei from 31 August 2026.
For January–September 2026, the cumulative deficit calculated by COMUNICA.MD from the MoF’s monthly reports was 8,662.5 million lei, or 40.7% of the specified annual deficit of 21,285.2 million lei.
What do the figures show for September 2026?
The Ministry of Finance’s report for September 2026 compares the month with August 2026. Consolidated central budget revenues rose by 1,300.8 million lei (+12.9%), while spending fell by 722.2 million lei (−6.8%). The difference between the two resulted in a surplus of 1,443.0 million lei.
Compared with September 2025, when the balance was almost even (a surplus of 5.4 million lei), revenues in September 2026 were 14.2% higher, while spending was virtually unchanged (−0.2%). The SDDS report does not specify which revenue categories increased.
How has the budget performed after the first nine months?
The Ministry of Finance has not yet published the cumulative report for January–September 2026. By summing the monthly SDDS reports, COMUNICA.MD calculated revenues of 90,628.0 million lei, spending of 99,290.5 million lei and a deficit of 8,662.5 million lei. For the first eight months, the sum of the monthly figures exactly matches the MoF’s cumulative report as of 31 August 2026 (a deficit of 10,105.5 million lei).
Compared with the annual plan specified as of 31 August 2026, revenues were executed at 73.6% and spending at 68.7%. In January–September 2025, calculated using the same method, the deficit was 7,703.5 million lei, or 959.0 million lei less than in 2026.
How much has state debt increased?
Gross central government debt rose by 1.8% in September 2026 to 150,361.17 million lei, according to the MoF. Domestic debt increased by 1,980.7 million lei to 60,183.21 million lei, almost entirely due to short-term debt (+1,939.2 million lei to 47,521.90 million lei). External debt increased by 650.9 million lei to 90,177.96 million lei, accounting for 60% of the total.
Compared with 31 December 2025 (132,777.02 million lei), state debt was 17,584.2 million lei higher (+13.2%), and 23,086.1 million lei higher than in September 2025 (+18.1%). Debt guaranteed by the central government reached 5,176.84 million lei, all of it domestic.
Why did debt rise in a month with a surplus?
SDDS data for September 2026 show negative net domestic financing of 1,447.3 million lei and net external financing of just 4.3 million lei. The Ministry of Finance’s report does not explain why debt increased by 2.63 billion lei in the same month.
Sources
- Ministerul Finanțelor — Raport privind executarea bugetului consolidat central conform SDDS la situația din 30 septembrie 2026
- Ministerul Finanțelor — SDDS data for September 2026 (PDF)
- Ministerul Finanțelor — Rapoarte lunare SDDS ianuarie–august 2026 și ianuarie–septembrie 2025 (arhivă)
- Ministerul Finanțelor — Raport privind executarea bugetului consolidat central la situația din 31 august 2026
Written with AI assistance from the official sources above and checked by the editors.
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