Marcel Ciolacu: "Romania will never enter into 'junk', [...] but this possibility exists in the case of a prolonged political crisis"

Marcel Ciolacu stated, during the meeting of the Buzău County Council on Tuesday, that he does not believe that Romania will be downgraded to "junk" status by rating agencies, but warned that a prolonged political crisis could lead to such a scenario.

He highlighted the drastic decrease in consumption, considering it the main economic problem of the country. Ciolacu mentioned that the trade deficit should be a priority for the current Cabinet, not the budget deficit. He also noted that Romania has been facing a decline in consumption for eight consecutive months, comparing the situation to countries like Italy and Spain, where tourism boosts consumption.

Criticizing the Government's austerity measures, Ciolacu stated that they have reduced revenues and affected the business environment.