Ludovic Orban, the leader of the Right Force and former prime minister, commented on the decision of the rating agency Fitch to maintain Romania's sovereign rating at 'BBB-' with a negative outlook. Orban believes that, although it is not bad news, it would have been better for the agency to drop the negative outlook, which would have led to a decrease in borrowing costs for Romania. He emphasizes that the lack of trust in the PSD, which will take over the prime minister position in 2027, is an important factor in Fitch's assessment.
The agency mentioned that the deterioration of public finances and large fiscal deficits contribute to maintaining the negative outlook. Additionally, Fitch highlighted the risks related to fiscal consolidation due to weak growth and tensions within the government coalition. High inflation and the impact of fiscal measures, such as the increase in the VAT rate, are also factors affecting the rating. Orban confirmed that Fitch's assessment reflects the economic and political realities of Romania, emphasizing the need for effective measures to improve the fiscal situation.
The agency mentioned that the deterioration of public finances and large fiscal deficits contribute to maintaining the negative outlook. Additionally, Fitch highlighted the risks related to fiscal consolidation due to weak growth and tensions within the government coalition. High inflation and the impact of fiscal measures, such as the increase in the VAT rate, are also factors affecting the rating. Orban confirmed that Fitch's assessment reflects the economic and political realities of Romania, emphasizing the need for effective measures to improve the fiscal situation.
Sources
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