Bucharest General Mayor and presidential candidate Nicusor Dan says that without „greater” budgetary discipline to keep spending under control, Romania’s borrowing costs will become more and more expensive and it will „fail” to attract new investments that would increase the number of well-paid jobs.

„In the election noise, the news that Moody’s rating agency has downgraded Romania’s outlook from ‘stable’ to ‘negative’ was treated too discreetly. It is the latest agency to downgrade our country rating, after Fitch Ratings and S&P Global Ratings did the same recently. A huge deficit of almost 8% of GDP, significant delays in attracting the money from the PNRR [the National Recovery and Resilience Plan] and in adopting fiscal reform measures are structural problems that the government does not seem able to solve. Without greater budgetary discipline to keep spending under control, Romania’s borrowing costs will become more and more expensive and it will fail to attract new investments that will increase the number of well-paid jobs,” Nicusor Dan wrote on Facebook.

According to him, without an active president „to push” the government to carrying out reforms and attracting European money Romania will not be able to regain investors’ confidence.

„As far as I am concerned, I know what needs to be done to get back on our feet as a country, because I have done that with Bucharest. I took it over with debts of more than 3 billion and we have reached an individual rating of „A” for the capital, four notches above that of Romania,” presidential candidate Nicusor Dan added.

AGERPRES