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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 [email protected] 

 

RO FinMin expects S&P to upgrade outlook to stable in December

Romanian finance minister Florin Citu expects international rating agency S&P to upgrade to stable from negative its outlook on Romania's sovereign rating.

"I expect S&P to maintain the rating in December, and change the outlook to stable. They will see that we want fiscal consolidation," minister Citu said, quoted by Economica.net.

On a highly optimistic note, he said that the public deficit in January-August (5.2% of GDP) would have been nearly 2% of GDP without the health crisis, less than expected at the beginning of the year.

Minister Citu also grounded his expectations on another budget revision by the end of the year, most likely before the December 6 general elections and, more importantly, before December 4, when S&P will issue the next rating decision for Romania.

He added that the Government that will come after the December 6 general elections would publish the budget planning for the next year "at the appropriate time."

Previously, Citu said that the Finance Ministry was already working on the budget planning for 2021, which will be discussed by the next Parliament after the elections.

(Photo: Maximusnd/ Dreamstime)

[email protected]

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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 [email protected] 

 

RO FinMin expects S&P to upgrade outlook to stable in December

Romanian finance minister Florin Citu expects international rating agency S&P to upgrade to stable from negative its outlook on Romania's sovereign rating.

"I expect S&P to maintain the rating in December, and change the outlook to stable. They will see that we want fiscal consolidation," minister Citu said, quoted by Economica.net.

On a highly optimistic note, he said that the public deficit in January-August (5.2% of GDP) would have been nearly 2% of GDP without the health crisis, less than expected at the beginning of the year.

Minister Citu also grounded his expectations on another budget revision by the end of the year, most likely before the December 6 general elections and, more importantly, before December 4, when S&P will issue the next rating decision for Romania.

He added that the Government that will come after the December 6 general elections would publish the budget planning for the next year "at the appropriate time."

Previously, Citu said that the Finance Ministry was already working on the budget planning for 2021, which will be discussed by the next Parliament after the elections.

(Photo: Maximusnd/ Dreamstime)

[email protected]

Normal
 

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