Scope Ratings says recent budget revision could prompt reassessment of Romania's sovereign credit rating
Publicat:The Romanian government has adopted a first revision of the 2019 budget in response to the increase of the budget deficit and effective measures are needed, considering the pro-cyclical fiscal policies and the upward trajectory of Romania's public debt, German agency Scope Ratings notes in a report this week. The agency remarks that Romania's budget deficit has continued to widen to an annualised 5.5 percent of GDP during the first quarter of 2019, by far the highest among EU members, which have an average budget deficit of 0.6 percent - despite annual real GDP growth of 5 percent.
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