Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

RO Fiscal Council head expects Moody’s, Fitch take country out of negative watch list

The head of Romania's Fiscal Council, Daniel Daianu, said that he expects the other two major rating agencies - Moody's and Fitch - to follow S&P, which took Romania out of the negative watch list at the end of last week assigning its rating a stable outlook, Economica.net reported.

Romania's fiscal consolidation has already begun, and the budget deficit will be this year smaller than the 7.16% official target - actually smaller than 7%, according to the Fiscal Council head speaking at a conference organized by corporate rating firm Coface.

As regards the economic growth, Daianu also expressed optimistic expectations for 5-6% growth this year.

The optimistic forecast is grounded on the 14% of GDP inflows (soft loans and grants) under the Recovery and Resilience Plan PNRR that would push up the investments to 6.5% of GDP over the coming years.

Although it already started, the fiscal consolidation will be more complicated compared to other countries that do not feature the structural deficits Romania has, Daianu warned.

He also mentioned the risk of sluggish vaccination rate - a risk outlined by a recent poll carried by the health care group Medlife recently.

The Fiscal Council's head suggested that "the business community needs to promote vaccination, not wait for people to get vaccinated, because we risk losing momentum it will be very bad."

(Photo: Shutterstock)

andrei@romania-insider.com

Normal
Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

RO Fiscal Council head expects Moody’s, Fitch take country out of negative watch list

The head of Romania's Fiscal Council, Daniel Daianu, said that he expects the other two major rating agencies - Moody's and Fitch - to follow S&P, which took Romania out of the negative watch list at the end of last week assigning its rating a stable outlook, Economica.net reported.

Romania's fiscal consolidation has already begun, and the budget deficit will be this year smaller than the 7.16% official target - actually smaller than 7%, according to the Fiscal Council head speaking at a conference organized by corporate rating firm Coface.

As regards the economic growth, Daianu also expressed optimistic expectations for 5-6% growth this year.

The optimistic forecast is grounded on the 14% of GDP inflows (soft loans and grants) under the Recovery and Resilience Plan PNRR that would push up the investments to 6.5% of GDP over the coming years.

Although it already started, the fiscal consolidation will be more complicated compared to other countries that do not feature the structural deficits Romania has, Daianu warned.

He also mentioned the risk of sluggish vaccination rate - a risk outlined by a recent poll carried by the health care group Medlife recently.

The Fiscal Council's head suggested that "the business community needs to promote vaccination, not wait for people to get vaccinated, because we risk losing momentum it will be very bad."

(Photo: Shutterstock)

andrei@romania-insider.com

Normal
 

Romania Insider Free Newsletters