We expect Romania's growth to gradually decelerate next year as external demand and wage inflation subside amid a weakening fiscal impulse. The country's twin deficits are widening, but we do not project public and private debt levels will rise meaningfully over the next two years. However, our base-line macroeconomic scenario depends, on real exchange rates remaining relatively firm, and average growth not dipping below 3% to 2022, as EU funds and other capital inflows continue to spur demand. We are affirming our 'BBB-/A-3' ratings on Romania and maintaining a stable outlook. On Aug. 30, 2019, S&P Global Ratings affirmed its 'BBB-/A-3' long- and short-term foreign and local currency sovereign credit ratings on Romania. The outlook is stable. The outlook is
