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May 17, 2021

Romania’s public debt – RON 137.8 bln in October

Romania’s public debt on October 31, 2009 rose 25.6 per cent against late 2008, to RON 137.8 bln, yet was down nearly RON 2.3 bln from the end of September, according to data released by the Ministry of Public Finance, Money.ro reports. MFP data take into count a 2009 Gross Domestic Product (GDP) estimate of RON 505.503 bln. The government and the International Monetary Fund (IMF) forecast Romanian economy would shrink by about 7 per cent in 2009, less than previously thought, as a result of increased foreign demand, and the economy will show an advance of 1.3 per cent, higher than originally expected. In a mid December webpage release based on operative data, MFP predicted the public debt will account for 29.9 per cent GDP in late 2009, from 27.6 per cent GDP on October 31. Romania’s public debt declined by about RON 2.3 bln, from RON 140.09 bln on September 30.

Loan arrears rose 4.6 per cent in November, from October, to RON 4.2 bln, according to data made public by the National Bank of Romania. In the hard currency department, loan arrears were up 20 per cent, to RON 3.79 bln. In late October, the volume of unpaid loans stood at RON 4.03 bln in the home currency department and RON 3.16 bln, in the hard currency category. Since the beginning of 2009, the hard currency past-due loans were up almost four-fold and the RON ones, 2.3 times respectively.

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