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10. 03. 10. - 17:00

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10. 03. 10. - 17:00

Romania´s outlook revised to stable by Standard & Poor´s

Romanian Times

Ratings agency Standard & Poor’s has revised Romania's credit rating outlook to stable, according to its statement yesterday (Tues).

Romania's previous outlook was negative, and the change comes after government measures to comply with international loan agreements with the International Monetary Fund (IMF) and the European Commission, it said.

"The revised outlook reflects our view of Romania’s sustained budgetary reform program and our belief that the government is likely to continue to comply with the IMF and European Commission standby agreement, thereby easing external financial pressures," Standard & Poor’s credit analyst Marko Mrsnik said.

Romania and the IMF agreed last spring on a stand-by loan that was part of a 20-billion-Euro package that included funds from the European Commission, the World Bank and other international lenders.

Romania's economy may "recover slightly in 2010, thanks mainly to the recovery we anticipate in external demand," the rating service said.

Romania’s gross domestic product (GDP) declined by 7.1 per cent year on year in 2009.

Romanian authorities have estimated there will be economic growth of 1.3 per cent in 2010.

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Romania wont ratify ACTA
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