Rating agency Fitch has affirmed Romania’s sovereign debt rating at BBB-/F3 for long-term and short-term foreign currency debt and revised the country’s outlook from negative to stable, the finance ministry announced on Saturday.

This is the first positive change in the rating forecast for Romania, managed by this agency since April 2020.

The decision to revise Romania’s rating perspective is supported, according to the agency, by the stabilization of the public debt and the implementation of policies aimed at ensuring gradual fiscal consolidation, as well as political stability in our country and the reduction of risks related to the war in Ukraine and the subsequent energy crisis.

In its assessment, Fitch mentions both the economic resilience demonstrated by Romania in 2022 and the political stability that allowed it to cope with the crisis caused by the war in Ukraine and the energy crisis.

According to Fitch, Romania’s economy will register growth of 2.3% in 2023, respectively 3% in 2024, given that our country will benefit from important European funds both within the framework of the Multiannual Financial Program for 2021-2027 and under the Recovery and Resilience Mechanism (PNRR). ).

“Fitch Ratings’ decision is proof of the international recognition of the Romanian government’s fiscal consolidation agenda and confirmation that the measures already taken were correct, necessary for our country and highly expected by all our external partners. At the same time, the agency’s positive assessments regarding Romania’s medium-term economic growth potential should also be noted,” said Finance Minister Adrian Caciu (Agerpres).