March 15, 2025
A roundup of local and international news.
Newsroom, 15.03.2025, 13:55
A roundup of local and international news.
ELECTIONS – Today is the last day for submitting candidacies to the Central Electoral Bureau, for the Romanian presidential elections in May. The registration of two independents has been accepted, namely, that of the current mayor of Bucharest, Nicuşor Dan, and of the former social-democratic prime minister, Victor Ponta. Also running is Crin Antonescu, representing the Romania Forward Alliance, made up by the current ruling parties PSD, PNL and UDMR. The Central Electoral Bureau also validated the candidacy of the USR leader Elena Lasconi, and that of the leader of the nationalist party AUR, George Simion. Among the rejected candidacies is that of the independent sovereignist Călin Georgescu, who was first in the Romanians’ voting options in the presidential elections last winter, annulled by the Constitutional Court on grounds of foreign interference. The Court judges argued that the irregularities attributed to Călin Georgescu in the 2024 election had implicitly affected his right to run for the new election in May. On March 20, the candidacies remain final, and on March 22 the order of registration on the ballot paper is established. The electoral campaign for the presidential elections begins on April 4 and ends on the morning of May 3. The first round will take place on May 4, and the second on May 18.
SECURITY – The interim President of Romania, Ilie Bolojan, is participating today in a videoconference convened by the British Prime Minister, Keir Starmer, in continuation of the summit of March 2, in London, following which the participating states established a four-point plan aimed at leading towards a lasting peace in Ukraine. Leaders from several European countries, Ukraine, NATO, the European Commission, Canada and Australia have announced their presence at today’s virtual meeting. The participants want to clarify how they can contribute in the event of a ceasefire agreement with Russia.
LANDMARK – The Triumphal Arch in Bucharest is permanently open to visitors as of today, but also to the Bucharesters who are passionate about history and culture. The program is Tuesday to Sunday, between 10:00 am and 6 pm local time. The Triumphal Arch is a symbolic monument in honor of the victory of the Romanian Army in World War I. On the other hand, as of next week, from Friday to Sunday, the courtyard and interior of the Cotroceni Palace, the headquarters of the Romanian presidency, will be open to citizens. They will be allowed to walk through the gardens or enter the church within the estate.
CARS- The Otosan Ford plant in Craiova (south) delivered, on Friday, the first fully electric vehicles produced in Romania. Attending the presentation of the new models, Prime Minister Marcel Ciolacu said that the Romanian car manufacturer is currently one of the most important companies in the country, due to its essential role in increasing Romanian exports. Ford Otosan, one of the largest commercial vehicle manufacturers in Europe, is owned by Ford Motor Company (41%) and Koç Holding of Turkey (41%), the remaining 18% being shares placed on the Istanbul stock exchange. In recent years, half a billion euros have been invested in the Craiova plant, which has transformed it into one of the most advanced and flexible car production units in Europe.
RATING – Moody’s Ratings has today changed the outlook on the Government of Romania to negative from stable. According to Moody’s, “the decision to change the outlook to negative reflects the risk that in the absence of the adoption of additional fiscal consolidation measures, Romania’s fiscal strength will significantly weaken in coming years.” Romania’s fiscal deficit is expected to remain elevated at 7.7% of GDP in 2025 and only gradually improve thereafter, driving the government debt burden to 68.5% of GDP by 2028, while also significantly weakening the government’s debt affordability metrics. The agency’s analysts say that Romania is also exposed to geopolitical risk, due to its proximity to the war in Ukraine. Romania’s long-term local and foreign-currency country ceilings remain unchanged at A2. Moody’s was the only one of the three major agencies to have a stable outlook on Romania’s sovereign rating. Fitch and Standard & Poor’s already have a negative outlook, which places Romania one step away from the junk category, not recommended for investment. (EE)
