Romania curbs debt sale plan as presidential favourite rules out tax hikes

Published on: Tuesday 06 May 2025

Romanian debt managers curbed local debt sale plans on Wednesday amid a slide in the leu currency since hard-right presidential candidate George Simion took the lead in the first round vote and ruled out tax hikes to fix the country's ailing finances. The leu has lost nearly 3% and Romania's 10-year bond yields surged by some 60 basis points since eurosceptic Simion decisively swept a first ballot on Sunday, triggering the resignation of leftist Prime Minister Marcel Ciolacu and the collapse of the pro-Western coalition government. With a run-off scheduled to take place on May 18, Simion has "categorically" ruled out tax hikes if he wins the election, but offered no alternative to cutting the European Union's largest budget deficit and avoiding a ratings downgrade.

News source: https://finance.yahoo.com/news/romanian-hard-presidential-frontrunner-rules-060745779.html

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Romania curbs debt sale plan as presidential favourite rules out tax hikes