Moody’s praises Romania for new fiscal package meant to tackle budget deficit

The rating agency Moody’s, which, among others, analyzes the viability of states as debtors, welcomed the fiscal measures adopted by the Romanian government toward budgetary balance, according to a press release from the Ministry of Finance.

Moody’s estimates that, if the package is fully implemented, the budget deficit could be 7.8% of GDP by the end of the year, compared to 8.3%, as previously forecast. Next year, the deficit is expected to drop to 6.1%.