...October 15, 2019 STOCKHOLM (S&P Global Ratings) Oct. 15, 2019--S&P Global Ratings today said that the Social Democratic Party-led government's loss of a no confidence motion and resulting political uncertainty in Romania will almost certainly delay fiscal consolidation measures until after the parliamentary elections in 2020, putting pressure on the country's twin deficits. Nevertheless, our base-case macroeconomic scenario already captures these risks and we do not expect immediate effect on our long-term sovereign credit ratings on Romania (###-/Stable/A-3). Despite the political uncertainty, we continue to project a general government fiscal deficit for 2019 of close to 3% of GDP on the back of still-strong nominal GDP growth, and expected cuts to public investment. President Klaus Iohannis is set to appoint an acting prime minister as soon as today, who will form a transitional government with a limited mandate focused on overseeing the 2019 and 2020 budgets. Parliament would have to...
