Alexandru Nazare warns: snap elections could lead to Romania’s credit rating being downgraded

Finance Minister Alexandru Nazare warned on Thursday, on TVR 1, that holding snap elections could prompt rating agencies to downgrade Romania, with financial consequences the country cannot afford. According to the official, such a scenario would put the investment-grade rating at risk and extend the time needed for economic recovery.

Nazare said Romania needs a government to be formed quickly and a credible 2027 budget, agreed by all parties and adopted by the end of this year. Investors are monitoring the budget calendar, particularly in a context marked by domestic imbalances, the war in Ukraine, the conflict in Iran and rising fuel prices.

The minister said the economy is close to stagnation, following a slowdown in growth that began in 2021, while banking analysts are considering a possible contraction at the end of 2026. He rejected the idea that Romania’s policies are dictated by international creditors and said voters must be informed about the costs of every decision.

Asked whether he would accept the position of prime minister, Nazare said it was an honor to be mentioned, but that the information was “reports citing sources.” He also said he left the Cîțu Government in 2021 because he did not sign a memorandum concerning the purchase of large quantities of vaccines.