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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.

Almost half of Romanians live in poverty
Almost half of the Romanians (8.89 millions) are at risk of poverty or social exclusion, according to Eurostat data published today (Weds).

Police carry man off the snow and save his life
A man who had collapsed in freezing weather near a river, in Stoina, Gorj, southern Romania, was saved after policemen carried him for several kilometres.

New government with same eight former ministers proposed
The Romanian parliament will vote on the new government team, proposed by designated Mihai-Razvan Ungureanu, tomorrow (Thurs).

Forty-one dead in freezing weather
Another three persons have died due to low temperatures in the last 24 hours, the Romanian Health Ministry said today (Weds).

EC report on Justice is positive, minister says
Romanian Justice Minister Catalin Predoiu currently acting prime minister until the new government is voted in by the parliament, said today (Weds) that the European Commission's interim report on progress in justice is, overall, "positive".

Pink Martini concerts in Bucharest
American orchestra Pink Martini will give a concert in Bucharest on 26 May at the Palace Hall, part of the promotional tour for their latest album "A Retrospective", local organisers Events said today (Weds).

Romania's industrial output up
Romania's industrial output increased by 15.6 per cent in 2011, the National Statistics Institute (INS) said today (Weds).

Father tried for abusing four-year-old girl
A Romanian father was sent to trial for abusing his stepdaughter, aged only 4, prosecutors said today (Weds).

Pitch in best condition for Steaua-Twente match, authorities say
The pitch for the Europa League match Steaua Bucuresti - Twente Enschede will be in optimal condition, the Bucharest town hall promises, after criticism of the National Arena turf.

More Romanian tourists travel to Austria
The number of Romanian tourists to Austria rose last year, after two years of a decline, Austria's National Tourism Office in Romania announced today (Weds).