United States fiscal cliff

BNS: Real budget revision most likely in November, current one just window dressing

The real budget revision will be probably carried out in November, considering the evolution of certain spending categories, the National Trade Union Bloc (BNS) said in a statement; the union organization cautions that shifting the budgetary pressure to the last two months of the year means an unjustified postponement that is dangerous for budgetary stability.

Romania's Q1 2019 gov't deficit: 0.5pct of GDP, according to Finance Ministry

Romania's Q1 2019 government deficit is 0.5 percent of the Gross Domestic Product (GDP), while the percentage reported on Friday by Eurostat of 4.5pct of GDP quarterly is calculated against the seasonally adjusted ESA balance by reference to the quarterly GDP, according to the Romanian Ministry of Public Finance (MFP).

Fitch Ratings confirms Romania's rating at 'BBB-', but warns it could exceed deficit target in 2019

Fitch Ratings has affirmed Romania's Long-Term Foreign and Local Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook, but warned that the budget deficit might widen to 3.4 percent of the GDP in 2019, a release of the agency informed.

Possible pressures on the public debt

In the previous Note, we considered the relationship between nominal GDP growth, the fiscal deficit, and the evolution of the debt/GDP ratio. We noted that the math only works if the deficit accurately and truly reflects all the pressures on the stock of debt. In this Note, we can look at this issue in more detail with past data for Greece from 1995-2017.

Moscovici: Greece can produce growth and surplus in 2019

The Greek economy is now in a position to create surpluses and continue to have growth in 2019, European Commissioner for Economic and Financial Affairs Pierre Moscovici said on Thursday.

"Greece has implemented 450 reforms that were necessary. I believe that Greece is now in a position to create surpluses and return to growth in 2019," Moscovici told France Info radio.

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