March 2, 2024 UPDATE
A roundup of local and international news.
Newsroom, 02.03.2024, 19:17
Rating. The finance ministry will continue to support the implementation of measures aimed at fiscal and budget consolidation over the medium term, as well as at ensuring the country’s sustainable economic growth, finance minister Marcel Boloş said in a statement. Previously, Fitch rating agency affirmed Romania’s rating at BBB minus with a stable outlook. The rating is supported by the country’s EU membership and related capital inflows that support macro-economic stability. Analysts note that Romania’s budget deficit in 2023 was unchanged compared with the previous year, at 6.1% of GDP, well above the government’s initial target of 4.4% of GDP. Fitch also expects the Romanian economy to grow by 3% this year and the next, after the growth momentum slowed to 2% in 2023. There are uncertainties related to the post-election fiscal plans and recent fiscal slippage which has negatively affected policy credibility. The large inflows of EU funds, the new multiannual financial framework and other types of funds will remain the main drivers of growth and medium-term investment in Romania, Fitch also notes.
Congress. European Social Democrats who met in a congress in Rome on Saturday elected the current commissioner for jobs, Luxembourg’s Nicolas Schmit as their lead candidate for the upcoming European elections and their candidate for president of the European Commission after the elections, according to DPA. Schmit told the delegates his main objectives are defending European values and fighting the rise of the hard right in Europe. He also emphasised the importance of a European security and defence policy. Schmit is the current EU commissioner for jobs and social rights. Romania was represented at the congress by its Social Democrat prime minister Marcel Ciolacu, who said Europe needs more social policies and the energy and ideas supported by European social democracy. On Saturday, Ciolacu met his Spanish counterpart Pedro Sanchez to discuss the final details of a plan under which Spain is to allow Romanian nationals living in Spain to hold dual citizenship. Ciolacu thanked the Spanish prime minister for the support given by the Spanish EU presidency for Romania’s air and maritime accession to the Schengen area at the end of March.
European elections. The president of the European Parliament Roberta Metsola is travelling to Bucharest next week to attend the congress of the European People’s Party hosted by the Romanian capital on Wednesday and Thursday. She is to visit all EU member states in preparation of the European Parliament elections of 6-9 June in order to boost interest in the European elections and encourage citizens, especially young people, to vote. In Romania, Metsola will have a dialogue with young Romanians about their involvement in European democratic life, the future of Europe and the importance of European elections. She is also due to meet president Klaus Iohannis, prime minister Marcel Ciolacu and other Romanian officials.
Diplomacy. The Romanian foreign minister Luminiţa Odobescu on Saturday attended the Antalya Diplomacy Forum whose overarching theme this year was “Advancing Diplomacy in Times of Turmoil”. She emphasised the strategic priority given by Romania to the Black Sea region, both in terms of security and economic development and connectivity. She also mentioned the need to consolidate NATO’s deterrence and defence posture in the Black Sea area while intensifying economic development. The minister highlighted the need to develop projects related to connectivity, energy, infrastructure while also pursuing the EU initiatives in this field, such as the Black Sea Synergy and the Black Sea Common Maritime Agenda. Initiated in 2021, the Antalya Diplomacy Forum has become an important regional and global conference owing to the diverse range of issues it tackles and the high level of participation.
Rugby. Romania lost to Georgia 43-5 on Saturday in Tbilisi in the semifinals of the Rugby Europe Championship. Georgia thus also secured the Antim Ivireanu Cup, a trophy the two sides have been vying for since 2002. Romania will play the third-place playoff match against either Spain or Portugal, on 17th March in Paris. (CM)
