Coface maintaines Romania's country risk assessment at B

Coface has maintained at B Romania's country risk assessment, which reflects unstable macroeconomic environment still able to impede an already scarce history of corporate payments, reads Coface Macroeconomic Report Romania 2015. 

Despite macroeconomic balances, a slowdown in euroisation and meeting nominal convergence criteria, Romania remains vulnerable because of the structural nature of domestic macroeconomic imbalances, says Coface. 

Among the imbalances, Coface mentions a very high level of commercial credit, very high interdependence of companies, accelerated slowdown of business versus start-ups as well as a high level of instruments refused for payment. 

As strengths, it mentions a large domestic market, cheap qualified labour, significant forex reserves, a relatively stable local currency versus the euro, public indebtedness below the EU average and reduced energy dependence. 

On the other hand, a dwindling population as a result of active migration of qualified labour, a small percentage of the Government's revenue as a percentage of the Gross Domestic Product (GDP), a high level of the informal economy as well as very poor road and logistics infrastructure are mentioned as Romania's weaknesses.

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