Romania’s assets staged a relief rally after a centrist candidate defeated his nationalist opponent in the presidential election, with investor focus now shifting to how quickly a new government can fix the state’s finances.

The Kremlin on Monday described Romania's presidential election as "strange", saying the pro-Russian candidate who won an aborted vote last year had been unfairly disqualified.

European Union candidate Nicusor Dan on Sunday won Romania’s closely watched presidential runoff against a hard-right nationalist who modeled his campaign after U.S.

Hard-right nationalist George Simion could win Romania’s presidential election run-off on Sunday – a vote being held five months after the original election was annulled.

But Romania's growth has steadily slowed since a post-pandemic bounce in 2021, and the European Commission forecasts its budget deficit at 8.6% this year and 8.4% in 2026, well above the government's 7% 2025 target outlined in a seven-year EU-approved plan.

The centrist mayor of Bucharest won Romania’s presidential runoff on Sunday, quashing the ambitions of a far-right Donald Trump loyalist as voters came out in force to ensure that the Black Sea nation held steady on a pro-European path.