Romania\u2019s economy passes evaluation<\/b><\/p>\n
Standard & Poor’s has confirmed Romania’s sovereign rating at BBB-\/A-3 (investment grade) and maintained the negative outlook, the financial rating agency said in a press release. The agency went on to say that it could revise the outlook to stable if Romania further cuts its external and fiscal deficits. This scenario would be supported by a credible medium-term policy plan, possibly relying on a broad political consensus, along with a recovery in economic growth. Standard & Poor’s estimates a general government fiscal deficit of 6.25% of GDP for this year, down from 7.9% in 2025 and 9.3% in 2024.<\/p>\n
All three major financial rating agencies, Standard & Poor’s Global Ratings, Moody’s and Fitch, gave Romania\u2019s sovereign rating a negative outlook, which puts the country one step away from the junk category, that is not recommended for investment.<\/p>\n
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The Central Bank maintains current level of monetary policy interest rate<\/b><\/p>\n
The National Bank of Romania decided on Thursday to maintain the monetary policy interest rate at 6.50% per year in order to ensure price stability in the medium run. The Central Bank notes that inflation has decreased significantly in the first two months of the third quarter, from 10.42% in June to 8.16% in July and to 6.17% in August. However, the Bank estimates that the annual inflation rate will again start going up towards the end of the year, mainly due to the increase in the price of fuel, energy and other raw materials, including agri-food, as well as the evolution of the exchange rate of the national currency, the leu.<\/p>\n
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The alert is sounded in the energy field<\/b><\/p>\n
Romania must prepare for very high electricity prices this winter and upcoming spring, warns the Secretary of State in the Ministry of Energy, Cristian Bu\u015foi. He explained the country is going through the most difficult situation in recent decades in terms of its capacity to cover electricity demand, and the reactors of the Cernavod\u0103 nuclear power plant, on the Danube, will not be restarted until mid October, due to the low flow of the river. In addition, Romania will be influenced by the increase in electricity prices on the European market, where record levels are expected if the situation in the Middle East continues and the Strait of Hormuz remains closed. Bu\u015foi also said that Romania doesn\u2019t for the moment need to impose consumption quota for large industrial consumers, not even during peak evening hours.<\/p>\n
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The president designates news prime minister<\/b><\/p>\n
Romania’s new Prime Minister designate, the diplomat and former journalist Luca Niculescu, began negotiations with parliamentary parties on Thursday to form a government. Since the official publication of his nomination, on Tuesday, he has 10 days to form a government. Niculescu has been given a free hand by President Nicu\u015for Dan to negotiate either a political cabinet, a technocratic one or a mixed formula. Also on Tuesday, the Romanian national currency, the leu, reached a new historical low against the euro, which commentators blame on the extended political uncertainties. Many political analysts are skeptical about Luca Niculescu’s chances, and economists say that he does not have the necessary skills to manage the country’s finances.<\/p>\n
Niculescu is the fourth nomination made by Nicu\u015for Dan for the position of prime minister, since 5th<\/sup> May, when the minority government formed by the National Liberal Party, the Save Romania Union and the Democratic Union of Ethnic Hungarians in Romania and led by liberal Ilie Bolojan lost a vote of confidence in Parliament. Previous names designated to form the government were the People\u2019s Movement Party\/ Renew MEP Eugen Tomac, who resigned before the vote in parliament, dissident liberal Adrian Ve\u015ftea and PNL\/PPE MEP Siegfried Mure\u015fan, the latter two of whom did not gather enough votes in Parliament.<\/p>\n \n Serious incidents reported in the Black Sea<\/b><\/p>\n Bulgaria says it will invite its neighbors and NATO allies Romania and Turkey for consultations on ensuring the security of commercial ships in the Black Sea. The Bulgarian National Security Advisory Council made the decision following Tuesday’s attack on two commercial ships in the exclusive economic zone. Sofia may ask its NATO allies to deploy additional air and maritime surveillance capabilities, as well as counter-drone systems. The incidents in Bulgaria occurred a day after an attack on a cargo ship in Romania’s exclusive economic zone. Ukrainian president Volodymyr Zelensky says the ship, which later sank, was hit by two Russian drones. According to the press office of the Foreign Ministry in Baku, the ship’s captain and another Azerbaijani citizen were killed. The rest of the crew were taken to shore by Romanian rescuers.<\/p>\n \n Romania falls to all-time low FIFA ranking<\/b><\/p>\n Romania has dropped to 58th place in the FIFA rankings, its lowest position to date having previously fallen to 57th<\/sup> place on 5th<\/sup> September 2012. The new drop comes after four defeats in as many Nations League matches played by Romanian this autumn: 1-2 away to Sweden, 2-4 to Bosnia-Herzegovina in Bucharest, nil-6 to Poland in Warsaw and nil-1 to Sweden at home. The series of defeats has sparked a wave of criticism in the press and among fans regarding both the quality of the players and the coaching skills of manager Gheorghe Hagi.<\/p>\n","protected":false},"excerpt":{"rendered":" Romania\u2019s economy passes evaluation Standard & Poor’s has confirmed Romania’s sovereign rating at BBB-\/A-3 (investment grade) and maintained the negative outlook, the financial rating agency said in a press release. The agency went on to say that it could revise the outlook to stable if Romania further cuts its external and fiscal deficits. This scenario […]<\/p>\n","protected":false},"author":105,"featured_media":892495,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[40944],"tags":[],"coauthors":[113297],"class_list":["post-1069197","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-week-in-review"],"acf":[],"yoast_head":"\n