November 23, 2017

Standard & Poor’s to raise Romania to investment grade in 2014

Standard & Poor’s increased the outlook of Romania’s junk credit rating from stable to positive, writes Bloomberg. S&P said it may upgrade it in the second half of next year depending on fiscal rigor and sales of state assets. Romania struggled to shed its junk rating for five years, embarking on one of the European Union’s toughest austerity programs in 2010 by cutting state wages 25 % and raising value-added tax by 5 % points. The government secured a third international bailout loan this year and has narrowed the budget gap to an estimated 2.5 % of gross domestic product this year, from 7.2 % in 2009.

Source: Bloomberg () Erstellt von rina, uberspringen 19 juni 2014 im forum hausarbeiten / umfragen beitrag online-studie zum thema pin warum muss ich die adresse angeben wenn mich das gewinnspiel nicht interessiert

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