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Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Fitch: Political turmoil puts at risk fiscal consolidation in Romania

The collapse of Romania's coalition government could disrupt fiscal consolidation efforts, which are key to resolving the negative outlook on Romania's BBB- rating, Fitch rating agency says in a note sent on September 7, after the junior ruling partner USR-PLUS pulled out of the government leaving the liberal party (PNL) without majority support in parliament.

Political turmoil clouds (former) coalition's ambitious reform agenda and the fiscal outlook, the rating agency says.

The government had planned ambitious expenditure and revenue reforms to reduce the deficit to under 3% of GDP in 2024 from 9.3% of GDP in 2020.

Romania is expected to send a medium-term fiscal consolidation strategy to the European Commission in October.

Fitch's next scheduled review of Romania's rating is due on October 22.

In response to the note sent by Fitch on the political context in Romania and its impact on the fiscal policies, prime minister Florin Citu promised to address the concerns expressed by the rating agency.

"I will explain to them that the reform program goes further; we will show that we have higher revenues in the budget [and that] the budget deficit can be reduced. We stick to the calendar," replied PM Citu, quoted by Ziarul Financiar.

(Photo: Shutterstock)

andrei@romania-insider.com

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Profile picture for user iuliane
Iulian Ernst
Senior Editor

Iulian studied physics at the University of Bucharest, and he sees himself as a physicist in the broadest sense of the word. He also studied economics at Charles University in Prague and Central European University in Budapest, after a master’s program in business administration at Bucharest Academy of Economic Studies. Since recently, he’s been exploring coding and data analysis for business and economics. As a freelancer, he worked for nearly two decades as an analyst for ISI Emerging Markets, Euromonitor International, Business New Europe, but also as a consultant for OMV Petrom and UkrAgroConsult. Iulian was part of the founding team of Ziarul Financiar. At Romania Insider, which he joined in 2018, he is reviewing the latest economic developments for the premium bulletins and newsletters. He would gladly discuss topics such as macroeconomics, emerging markets, Prague, energy sector including renewable, Led Zeppelin, financial services, as well as tech start-ups and innovative technologies. Email him at iulian@romania-insider.com. 

 

Fitch: Political turmoil puts at risk fiscal consolidation in Romania

The collapse of Romania's coalition government could disrupt fiscal consolidation efforts, which are key to resolving the negative outlook on Romania's BBB- rating, Fitch rating agency says in a note sent on September 7, after the junior ruling partner USR-PLUS pulled out of the government leaving the liberal party (PNL) without majority support in parliament.

Political turmoil clouds (former) coalition's ambitious reform agenda and the fiscal outlook, the rating agency says.

The government had planned ambitious expenditure and revenue reforms to reduce the deficit to under 3% of GDP in 2024 from 9.3% of GDP in 2020.

Romania is expected to send a medium-term fiscal consolidation strategy to the European Commission in October.

Fitch's next scheduled review of Romania's rating is due on October 22.

In response to the note sent by Fitch on the political context in Romania and its impact on the fiscal policies, prime minister Florin Citu promised to address the concerns expressed by the rating agency.

"I will explain to them that the reform program goes further; we will show that we have higher revenues in the budget [and that] the budget deficit can be reduced. We stick to the calendar," replied PM Citu, quoted by Ziarul Financiar.

(Photo: Shutterstock)

andrei@romania-insider.com

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