Rating agencies Moody’s and Standard & Poor’s issued important signals for the Romanian economy

PRESS RELEASE

The international financial rating agency Standard & Poor's has reconfirmed Romania's rating for long-term and short-term debts in foreign currency and in local currency with BBB minus / A-3. At the same time, the rating agency Moody's also confirmed the sovereign rating for Romanian national debt at Baa3 / P-3 for long-term and short-term debts in local and foreign currencies and improved the outlook from negative to stable.

"I want to congratulate the governmental team and the professionals who backed me in the implementation of the crisis response measures. I want to thank the private sector that has responded to these measures and has implemented them very fast, a private sector that has shown its potential, and its innovation resources in extremely difficult times. I have always said that the Romanian entrepreneur is a hero, and these results very clearly indicate that in Romania, the private sector responded and managed to cope better than almost all analysts estimated. We have delivered what all Romanians and also the international partners expected from us: a strong economic growth, and a gradual reduction of deficits", stated Prime Minister Florin Cîțu in a press conference held at Victoria Palace.

The key factors underpinning the decisions taken by the two rating agencies are the solid prospects of economic growth and implementation of the reforms undertaken through PNRR. At the same time, there are very important expectations regarding Romania's fiscal position upgrading over the next years.