Romanian M&A rose 8.5% in 2025, but retail sales fell and credit agencies downgraded the country due to fiscal concerns.

Romanian M&A activity rose 8.5% year-on-year through September 2025, with 216 deals valued at $5.4 billion, despite a slight decline in total value. The ETF BET Patria-TradeVille reached RON600 million in assets and 30,000 investors, signaling growing market interest. Meanwhile, retail sales dropped 7.2% from July to August, and credit agencies downgraded Romania’s outlook due to fiscal concerns. The EU approved EUR578 million in state aid for energy-intensive firms, and foreign investment remained strong, particularly in healthcare and financial services.