Moody's has confirmed the important steps that Romania has taken in the last year to balance its public finances and reduce spending, President Nicusor Dan said, after the international credit rating agency on Friday affirmed the Romanian government's long-term issuer rating at 'Baa3'.

'Affirming the country's rating in the recommended for investment category is, at the same time, the result of the institutional effort, of the citizens and of the business environment. The ratings agencies' ratings are not just technical appraisals, but they have an impact on everyone's lives, because they mean lower costs for state loans, more confidence for investors and, implicitly, better chances for investments, development and jobs. However, the outlook remains reserved, because we still have a lot of work to do moving forward,' Dan wrote in a social media post.

According to the head of state, Moody's, like Fitch, 'emphasises the need for a budget for 2027, agreed by the end of this year, and measures to limit the growth of state spending.'

'It is also essential for Romania to return to economic growth by fast tracking investments, stimulating the private sector, quality management in state-owned companies and fiscal predictability.'

As for Romania's accession to the eurozone, the president reiterated that 'there is an agreement in principle of the parties that our country returns to a concrete commitment to this objective.'

'Regarding accession to the euro, because we have seen many reactions, but also disinformation, there is an agreement in principle of the parties that our country returns to a concrete commitment to this objective, but that is a long process that must be prioritised and within which we will make all the necessary debates. All these objectives can be achieved only if the parties give up their political agendas and electoral discourse and work for the citizens who elected them. All nations that progress put the common interest of the people and the country above any party logo. I am confident that Romania can carry out the reforms it has committed itself to,' said Dan. AGERPRES (RO - editing by: Andreea Rotaru; EN - writing by: Corneliu-Aurelian Colceriu)