Fitch begins review of Romania’s public finances amid high political uncertainty

15 July 2026 One year after avoiding a sovereign downgrade by setting up a ruling coalition and passing budgetary measures that aligned the fiscal trajectory to the Excessive Deficit Procedure (EDP) commitments, Romania is now facing new scrutiny from the major rating agencies. While its public sector metrics improved significantly over the past year, thanks to the fiscal measures legislated in December 2024 and in the summer of 2025, the country’s expectations are constrained by political uncertainty and a lack of follow-up plans to avoid slippage into the non-investment region. Fitch has already started online talks with the authorities and will approach more institutions as well as the private sector, with a final country update expected on July 31, while Moody's will show up on July 16