Romanian President Says Govt Has Progressed, Calls For Faster Pace In Reform

The head of state added, however, that he would like to see a faster pace and more efficiency in the country’s reform process.

„In general, I trust people. The report made public by the IMF is in favor of this government and Fitch Ratings has also had positive remarks to the Government’s effort to fix structural issues in the country’s economy and budget. I can only note this progress but I wish things would move on faster,” Basescu said when asked whether he still has confidence in the democratic liberal government.

The president said he has also noted the harsh criticism the Cabinet received but, he said, „the Government has undertaken extremely difficult and unpopular measures that opposition parties reject.”

Fitch Ratings on Monday affirmed Romania’s long-term foreign and local currency issuer default ratings (IDRs) at ‘BB+’ and ‘BBB-‘ respectively, with stable outlooks, citing the country’s improved external position and sufficient government action to cut the budget deficit.