We expect real GDP growth in Romania to moderate to about 4% over 2023-2025, compared with closer to 6% in 2021-2022 as the recovery in demand following the COVID-19 pandemic wanes and high inflation, at least in the near term, curbs consumption growth; still, we expect high EU fund inflows will support economic activity. The stability of the country's energy supply is supported by a substantial share of domestic production. Romania's fiscal and current account deficits will remain high in 2022, but we expect them to decline from 2023 onward due to the government's consolidation efforts, coupled with lower domestic demand growth. We affirmed our 'BBB-/A-3' ratings on Romania. The outlook is stable. On Oct. 14, 2022, S&P Global Ratings
