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January 17, 2021
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Economy Finance International News Romanian News

Fitch Rating, Moody’s Affirm Romania’s Rating at BBB-

Both Fitch Rating and Moody’s maintain the rating for Romania, at BBB- with a negative outlook. Also, the third internationally recognized rating agency, Standard and Poor’s, is to issue its evaluation soon.

BBB- is not the best scenario for Romania, but at least it also maintains the interest of the loans to be contracted further on from the international markets.

According to Fitch, Romania will register a budgetary deficit of 9.5% from GDP in 2020. The forecast is much higher than it was in September, 6.4%, but also higher when compared with the revised budget projection of 8.6%.

Also, the same experts estimate a shrinkage of the Romanian economy of 5% in 2020 and an unemployment rate of 7.3% in 2021.

The outlook of the Romanian economy doesn’t look so promising in 2021. Only in 2022 the financial specialists estimate a partial recovery of the economy, but it is not going to be at the same level as it was in 2019.

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