Romaniaʼs govʼt borrows 55% above target from local banks in November

Banking

Photo by Albert Zoltan / Shutterstock.com

Romaniaʼs Finance Ministry borrowed RON 7.86 billion (EUR 1.6 billion) by issuing local currency-denominated debt on the local interbank market in November, 55.4% more than the planned RON 5 billion target, according to a report by Romania-insider. 

Photo by Albert Zoltan / Shutterstock.com

It also issued 2.5 billion Eurobonds and sold EUR 550 million worth of local currency and foreign currency bonds to households. Overall, the government borrowed over EUR 4.6 billion or 2.3% of the countryʼs GDP in only one month.

Romaniaʼs debt to GDP ratio edged up by 0.1 percentage point in September to 42.9%, from 42.8% in August and 35.3% in December 2019.

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