Japan Credit Rating Agency (JCRA) has announced upgrading the outlook on the rating for Romania’s long-term government debt in foreign currency and local currency, BBB-/BBB, from stable to positive, reads a Thursday’s release issued by the Ministry of Public Finance. “The agency’s decision to upgrade the rating outlook from stable to positive reflects the Government’s efforts for reducing the budget deficit and the current account deficit, the low level of public debt and the efforts to increase the uptake of European funds and the level of foreign direct investments,” the release reads.  The ratings agency remarks the efforts to repay the loans taken out from the IMF in the period 2009 to 2011, as well as the policy to keep budget deficit at low levels.  “Despite recent tax relief measures consisting in cutting social security contributions, raising the minimum salary and lower charges, the agency estimates that their impact on the budget deficit will be limited, in the context of recording an economic growth estimated at 3% in 2015 and 2016, but also in the context of budget expenditure cuts made progressively since 2009,” the release reads on.  On April 14, the financial evaluation agency Standard&Poor’s (S&P) confirmed Romania’s ratings for long- and short-term debts in foreign currency and local currency, at “BBB minus/ A-3,” with a stable outlook.  ‘BBB minus’ is the first investment-grade rating, recommended for investments. Romania is rated at 'Baa3’ by Moody’s and at 'BBB minus’ by Fitch. 

(via JCRA upgraded the outlook on the rating for Romania’s long-term government debt in foreign currency and local currency)

Our Favorite Places - Quarryhill Botanical Garden

Our Favorite Places – Quarryhill Botanical Garden

Every garden is different but few public gardens are truly unique.  Quarryhill Botanical Garden is certainly an exception to this rule.  Quarryhill’s goal of “advancing the conservation, study, and cultivation of the flora of Asia,” has led them to create a beautiful garden that displays one of the largest collections of documented wild-collected Asian plants in the world.  The plants are…

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