The rating agencies confirm Romania’s macroeconomic stability, Prime Minister Marcel Ciolacu said on Saturday.

The prime minister said that after the Fitch rating agency „confirmed Romania’s sovereign rating and stable outlook in August,” Standard and Poor’s „did the same” on Saturday.

This assessment, Ciolacu said, is proof of Romania’s macroeconomic stability and development prospects in the coming years.

„This is the result of the transition to an economic model based on massive investment, production and job creation here in Romania. This is the only way we were able to reduce inflation from 10.3% in June 2023 to 4.6% today and increase the number of employees to 5.16 million people – a post-December 1989 record,” he said on Facebook.

According to the prime minister, budget consolidation over the next seven years must be achieved by streamlining expenditure and increasing revenue collection, digitising the National Agency for Fiscal Administration, reducing tax evasion and continuing investment, ”not by tax increases and austerity policies, as we all lived with in 2009-2011,” he added.

The chief of the executive reiterated that the Standard and Poor’s analysis confirms „the safe path for Romania: production, investment, jobs, purchasing power and macroeconomic stability.”

AGERPRES