Romania’s Ministry of Public Finance got RON 3.68 bln from banks this October

Newsroom 31/10/2016 | 11:26

The Ministry of Public Finance has attracted RON 3.68 billion in October from the banks that are present on the Romanian market, below the amount it had targeted.

The MFP planned loans worth of RON 3.9 billion on the internal market in October, out of which RON 3.5 billion via certified auctions by treasury and state bonds and RON 405 million via supplementary sessions of uncompetitive offers, affiliated to the bonds auction.

For the entire year, the total volume of the scheduled loans for the Ministry on the internal market via state bonds issuing is determined by the forecasted level of the budgetary deficit, of 2.8 percent of the GDP (around RON 21 billion), which will be financed 50 percent on the internal market and 50 percent on the external market, as well as the refinance level of state bonds with maturity in 2016 in RON and EUR, worth RON 38 billion, out of which close to RON 31 billion affiliated to the issuing in RON and RON 7 billion in EUR.

Also, the Ministry takes into account attracting financial resources from the external market in a volume of EUR 4.5 billion, taking into account the evolutions and the offered opportunities on these markets, the level of repayment affiliated to the issuing of eurobonds on the external markets with maturity in June, valued at EUR 1.5 billion, as well as the necessity of the consolidation of the financial reserve in foreign exchange at the disposal of the State Treasury.

Thus, the financing from the external sources will be realized through the MTN program, by issuing eurobonds worth around EUR 3 billion and by attracting loans contracted from the international financing institutions, valued at EUR 1.5 billion, according to Agerpres newswire.

Georgiana Bendre

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