Moody's: Romania's rating will not be increased in the near future

Romania’s rating will remain at its lowest level in the investment grade category according to the Moody’s financial evaluation analyst Kenneth Orchard, quoted by Bloomberg. Moody’s is one of the three biggest financial evaluation agencies and the only one to rate Romania with Baa3, recommending investments still.

To consider an improvement of the rating, Romania need to substantially improve the fiscal situation, Orchard said. He added that current evolution of the Romanian economy is in accordance with the agency’s expectations.

Orchard estimates that Romania’s economy will increase by 2.3% this year, stimulated by an increase of exports after a 7% decrease in 2009 and a 7.1% advance in 2008. The IMF estimates that Romania’s economy will increase by 1.3% this year.