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
Latest News
14:25
A church in western Poland has introduced an unusual parking fee, asking drivers to pay with prayers.
14:15
The Vatican will build an agrivoltaic power plant of 80-90 MW, with an investment of 100 million euros, to supply the Holy See.
14:05
Barry Mitchell, former bassist of the band Queen, has passed away at the age of 76. The announcement was made by archivist Greg Brooks, who paid tribute to his memory.
13:52
Volkswagen is analyzing the elimination of 50,000 jobs worldwide, according to the CEO who warns that the situation is critical.
13:39
An unidentified object was seen Saturday morning on the Black Sea, near Tuzla beach. Authorities intervened to verify its nature.
See more news