The short- and medium-term outlook for investments is marked by increased uncertainties, and the highest uncertainties are the source of future fiscal and revenue policy, including in the context of the 2019 – 2020 election calendar, according to a document of the Board of Directors of the central bank of Romania (NBR).

“The short and medium term outlook for investments is marked by increased uncertainties … The largest have as sources future fiscal and revenue policy, including in the context of the 2019 – 2020 electoral calendar, given the characteristics of the budget execution during the first eight months of the year, as well as the potential impact of the new pension law, which could make a fiscal correction necessary, but also inevitable, in order to restore the budget deficit within the limit provided by the Stability and Growth Pact; it was agreed that the adjustments should be expected to focus on investment spending as a priority, but the moment of initiating fiscal consolidation, as well as its pace and magnitude are difficult to anticipate,” according to the NBR.

Also the uncertainties associated with the near perspective of the oil quotation were pointed out – in the context of the increasingly obvious slowdown of the global economy and the volatility of geopolitical tensions, reveals the document quoted by Agerpres.