Romanian authorities have maintained a very open and transparent attitude toward rating agencies, ensuring they have all necessary data, while the narrowing of the budget deficit, as well as the improvement in the trade balance and current account deficit, send a positive signal, acting Finance Minister Alexandru Nazare said on Monday.

'Since taking over this office, together with Prime Minister Ilie Bolojan, we have somewhat changed the strategy and the paradigm in which we engage with rating agencies. As early as last summer, with the enormous fiscal-budgetary pressures we were facing, we held talks with each rating agency, and when they visited Romania, talks were held even at Victoria Palace of Government. So we cultivated a very open and transparent attitude with the agencies, so that they would have all the data available and communication would be much better, at the highest and most accountable level - something Prime Minister Bolojan ensured - and in this way we increased trust with all rating agencies. In the context of last week, it seemed even more important to continue this strategy so that all agencies have up-to-date data,' the minister said on broadcaster Digi 24.

He stressed that discussions with rating agencies are supported by the fact that the first-quarter budget deficit is far below last year's level and is accompanied by a decline in both the trade deficit and the current account deficit.

'At this moment, it helps that the budget deficit in the first quarter stands at a very good level - 1.04% of GDP. It is far below last year's deficit, which is a major advantage. So the figures support our entire message and our relationship with the agencies - both the first-quarter deficit figure and the easing of the trade deficit and current account deficit in the first two months of the year. Very importantly, for example, regarding the trade balance: if last year we had a deficit of 5.5 billion euros, this year we have 4.6 billion, meaning a 17% decrease, almost 950 million euros in the first two months. And regarding the current account, if last year it was 3.7 billion euros, this year it is 3.2 billion - a 12% decrease, almost 500 million euros. This is a clear contrast with the figures from 2025. In January - February 2025, the trade deficit was increasing by 41% and the current account deficit by 26%,' Nazare explained.

According to the minister, these data support the message that Romania has made significant progress and that the fiscal-budgetary trajectory is moving in the right direction.

'So it is not only a narrowing of the deficit, of the budget deficit figure - it is also accompanied by an easing of the trade balance and the current account deficit, which sends a positive signal,' he added.

Nazare also noted that another factor supporting this message is the confirmation - even informally - of Romania's access to NRRP funds under payment requests three and four.

'The fact that we will receive 2.5 billion euros under request No. 4 matters a great deal. We have communicated these data to the rating agencies and told them we must remain in permanent contact during this period to provide directly any information they may need,' Alexandru Nazare said.

He mentioned that rating agencies conduct periodic assessments, the first of which will be in July - by Fitch - followed by Moody's in August and S&P in October.

'These are the periodic assessments, but if agencies observe a deterioration of the situation or have data supporting such concerns, they may also convene ad-hoc committee or board meetings triggered by specific events. Our objective during this period, even as an interim government, is to avoid such possible committees,' the acting Finance Minister added.

Last week, Nazare held discussions with representatives of Fitch and Moody's 'to provide the latest data and to have the best possible read on the situation'. AGERPRES (RO - writing by: Nicoleta Gherasi; EN - writing by: Simona Klodnischi)