Credit rating agencies are likely to postpone any major decisions on Romania's sovereign rating until the country's 2027 budget has been prepared, according to analysts at Austria's Erste Group, who believe recent fiscal developments should help the country retain its investment-grade status for now.  "We believe that the favourable budget execution so far this year will be sufficient to preserve Romania's investment-grade status for the moment," the report said. Indirectly, the report underscores the pivotal importance of the 2027 budget in safeguarding Romania's access to public financing. While the pressure for fiscal consolidation is expected to ease next year following two consecutive years of aggressive adjustment, further consolidation measures will still be required.