Fitch: more progress, better grade

Romania needs to make more progress in terms of inflation, boosting fiscal revenues and current account deficit reduction in order to benefit from a credit rating upgrade from Fitch Ratings, Reuters reports. Fitch was the first rating agency to have upgraded Romania”s rating to BBB minus a year ago, moving it into a low investment risk category. Nick Eisinger, Fitch”s analyst for Romania said that Romania”s rating was in line with its current situation and added he shared some of the concerns expressed by the IMF about the strategies of the government and the National Bank of Romania. In Eisinger”s opinion, a better approach in terms of inflation-related policy, the improvement of the taxation base and the reduction of the current account deficit are preconditions for a rating upgrade. Mediafax