Fitch Ratings on Friday reconfirmed Romania's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook and the Short-Term Foreign-Currency IDR at 'F3', the Finance Ministry said in a press release.According to the source, the decision to reconfirm the sovereign rating and maintain the stable outlook is supported, according to the agency, by EU membership and related capital inflows that support income convergence, external finances, and macro stability, as well as the positive evolution of GDP per capita and of governance and human development indicators, which are above 'BBB' category peers."Fitch Ratings' decision reconfirms confidence in the measures adopted by the Romanian Government to ensure the sustainability of public finances. This is important because the financing terms and conditions, as well as the appetite of the investment community on the capital market, are strongly influenced in a positive manner by the maintenance of a recommended investment grade rating and a stable outlook. Romania is currently registering a historic level of public investment, largely supported by European funds, in areas vital for improving the quality of life of Romanians. However, it is an announcement that must be accompanied by a sense of responsibility to improve budgetary efficiency and fiscal consolidation in order to ensure the resilience of the economy," said Finance Minister Marcel Bolos, quoted in the press release.The strengths that have led to maintaining the rating and outlook are offset by the level of state budget and current account deficits relative to similarly rated sovereigns, the high level of fiscal rigidity and the net external debt position.In the agency's view, Romania's economy will grow by 2.5% in 2024, the considerable inflows of European funds, including the cohesion funds from the Multiannual Financial Framework (2021-2027) and the recovery and resilience funds will continue to support growth and investment in the medium term. Beyond stimulating direct demand, EU funds will also contribute to the growth potential of the economy, accelerating the catching-up to the EU average.
In the context in which agri-food systems are responsible for almost one third of global greenhouse gas emissions, Auchan Romania assumes an active role in the transition of its supply chain toward a more sustainable model. At the second edition of the Climate Supplier Event, organized under the aegis of the Climate Change Summit, the […]
Janiva Magness, the winner of seven Blues Music Awards following 26 nominations, and nominated for a Grammy for a career spanning 17 albums, is set to perform at the 14th edition of the Brașov Jazz & Blues Festival, which will take place between August 14–16, 2026. Magness is one of the most valuable and influential […]
Auction house Artmark announced a major auction for this winter featuring an engraving created by Francisco Goya, the most important Spanish artist of the late 18th and early 19th centuries. Romania's late communist leader Nicolae Ceaușescu received this gift from King Juan Carlos I as a gesture of diplomacy. The engraving entitled “The Engagement – Capricho […]
Authorities managing Romania's Bicaz Gorges–Hășmaș National Park has built a fish ladder system on the Bicaz River, which will allow protected species to migrate and reproduce. There are several bridges and small bridge structures in the Bicaz River that have a “bottom sill,” meaning small waterfalls. Fish that do not jump like the trout cannot […]
The far-right opposition parties in the Romanian Parliament are set to file a motion of no confidence against the government headed by prime minister Ilie Bolojan. The motion, authored by senator Ninel Peia of the Peace – Romania First group, is specifically aimed at the reformist party Save Romania Union (USR), and is entitled “Romania […]
Romania's iconic rock singer Adrian Pleșca, known as “Artan,” died on Tuesday, December 2, after a fatal stroke, at the age of 64. The artist founded the well-known band “Timpuri Noi” in 1982 and “Partizan” in 2001, and was popular on the Romanian rock scene. Over the years, he left and returned to the two bands. Several […]
