The S&P rating agency reconfirmed, on April 12, the rating related to Romania's governmental debt at BBB-/A3 for long-term and short-term debt in foreign currency, as well as the stable outlook, the Ministry of Finance (MF) announced on Monday.According to a press release, the decision to reconfirm the sovereign rating and maintain the stable outlook is supported, in the agency's opinion, by the moderate stock of external and governmental debt and the solid growth prospects of our country in the next two years.At the same time, S&P anticipates that Romania's commitments within the European Union's Recovery and Resilience Mechanism will continue to anchor the political reforms of the Romanian authorities."The report confirms that the investments we finance with European money and for which we provide co-financing will support a substantial economic growth perspective of approximately 3.6%, on average, between 2025 and 2027. For us, it is a recognition of the constant efforts to to manage external and governmental debt in a responsible way, while focusing on the structural reforms we have undertaken. At the same time, it is a signal of confidence for investors that Romania remains on a positive development trajectory." finance minister Marcel Bolos said.In the evaluation, S&P highlights both the resilience demonstrated by the labor market in our country, and the fact that unemployment remains close to the historical lows recorded.The main factors that could lead to the improvement of the country's rating or the outlook are the substantial reduction of the fiscal deficit and the registration of a downward trend of public debt as a share of GDP. At the same time, the decrease in the costs of servicing the governmental public debt by improving the debt structure and the strong reduction of external deficits can represent other positive factors for Romania's credit rating, the release states.The main factors that could lead to a worsening of the country's rating or the outlook are: the increase in government deficits and the level of public debt as a percentage of GDP over the agency's current projections.
Six men and one woman from Romania have been accused of recruiting dozens of children and adults from foster care centers, whom they then transported to Hungary, where they turned them into slaves, forcing them to work under inhumane conditions. The accused are from the localities of Ozun and Chilieni, Covasna County, Romania, and allegedly […]
The Museum of Collectivization, the first in Romania dedicated to the forced collectivization period of the communist era, is set to open a new wing, Corp B, funded through the EU-backed National Recovery and Resilience Plan (PNRR) and co-financed by the National Cultural Fund Administration (AFCN). With the new building, the museum located in Tămășeni, […]
Romania’s “Madrigal – Marin Constantin” National Chamber Choir, conducted by Anna Ungureanu, will be in Luxembourg and Belgium, as part of the “Bridges Across Europe/Punți peste Europa” European tour, where it will perform five extraordinary concerts. The performances will take place between November 20 and 25, with the help of the Ministry of Culture, the Romanian Embassy […]
The European Development Bank approved a EUR 140 million loan for Romania’s “Cultural Foundations” project, aimed at preserving historical monuments and constructing cultural buildings in the country. The project targets 14 investment objectives of national and European relevance, administered by public institutions under the Ministry of Culture, including the Romanian Athenaeum, the Romanian National Operas […]
Bucharest, November 14, 2024 – Exim Banca Romaneasca offers clients the possibility to verify the true identity of the beneficiary when initiating a payment in RON through internet or mobile banking. This is enabled by the bank’s adoption of the Beneficiary Name Display Service (SANB), which helps prevent fraud and reduces erroneous transactions caused by […]
Fifty NGOs and civic groups, along with the Bucharest Environmental Platform, have drawn up an open letter calling on Romania’s Ministry of Environment, Waters, and Forests to urgently approve the Management Plan for the Văcărești Natural Park in Bucharest. They say the plan has been pending approval for nearly a year. The non-profits noted that […]
