November 24, 2017 / 10:45 AM / 24 days ago

BRIEF-Moody's says Romania's credit profile reflects robust growth prospects, moderate government debt

Nov 24 (Reuters) - Moody’s on Romania:

* ROMANIA‘S CREDIT PROFILE REFLECTS ROBUST GROWTH PROSPECTS AND MODERATE GOVERNMENT DEBT; CONSTRAINTS INCLUDE RISING GOVERNMENT SPENDING

* ALTHOUGH ROMANIA HAS RECORD OF FISCAL CONSOLIDATION, RECENT EXPANSIONARY STANCE HAS ERODED CONSOLIDATION GAINS THAT FOLLOWED GLOBAL FINANCIAL CRISIS‍​

* REAL GDP IS EXPECTED TO EXPAND BY 6.5% IN 2017 BEFORE DECELERATING TO 5.0% IN 2018.‍​

* EXPECTS PRIVATE CONSUMPTION TO SLOW AS THE IMPACT OF FISCAL STIMULUS ON PRIVATE CONSUMPTION IS LIKELY TO SUBSIDE‍​

* ROMANIA HAS MADE MATERIAL PROGRESS IN CORRECTING MACROECONOMIC IMBALANCES, BUT THESE IMPROVEMENTS COULD BE ERODED IN THE MEDIUM-TERM

* EXPECTS THE BUDGET DEFICIT TO REMAIN AT 3% OF GDP THIS YEAR AND EXCEED IT IN 2018

* PUBLIC FINANCES CONTINUED TO DETERIORATE IN 2017 AND MOODY'S EXPECTS THIS TREND TO CONTINUE IN 2018‍​ Source text : bit.ly/2A8Tej8

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