Romania's Rating Maintained by S&P, but Outlook Negative

Standard & Poor's (S&P) has maintained Romania's sovereign rating at BBB-/A-3, with a negative outlook. Despite the lack of a fully empowered government, Romania's fiscal consolidation process remains on track. However, S&P warns that it could lower the rating if the prolonged process of forming a government hinders the reduction of the fiscal deficit in 2027 and 2028. The agency highlights that Romania has consolidated its fiscal situation but notes that political instability and the absence of a functional government affect the predictability of reforms.