Rating agency Moody's has changed the outlook on Romania's Government ratings from stable to positive. It has also affirmed Romania's Baa3/P-3 ratings.

The country has made significant progress in correcting its macroeconomic imbalances and has reduced the economy's vulnerability to external shocks, according to Moody's.

Romania’s fiscal adjustment has also reduced the Government's fiscal deficit and has contributed to a stabilization of the Government's debt-to-GDP ratio. However, the country faces challenges including the potential risk related to the fiscal easing brought by the new Fiscal Code, according to Moody’s.

editor@romania-insider.com