S&P not concerned with Romania's slow fiscal consolidation plans

International agency S&P affirmed Romania's BBB-/stable sovereign rating and said it would not take negative actions unless the government deficit exceeded its rather comfortable current medium-term projections or if other existing imbalances such as high inflation or substantial current account deficits persisted.

S&P doesn't have great expectations from Romania's twin deficit narrowing, but it believes that the European Commission will delay some Resilience Facility funds as a result of a perceived lack of improvement in the country's fiscal position.