BUSINESS

Finance Ministry wants to borrow RON 13-15 bln by state bonds in Q2

The Ministry of Public Finance (MFP) scheduled for the second quarter the issuing on the internal market of state bonds worth RON 13-15 bln, an amount fairly similar to the one drawn in the first quarter, Mediafax reports. “To optimize our portfolio, MFP intends to launch, in this interval, new benchmark state bonds, maturing in three, five and, respectively, 10 years,” the release remitted by the institution informs. The ministry contracted, in Q1, loans of RON 15.16 bln by issuing state bonds and treasury certificates, a figure below the program’s inferior limit, of RON 15-17 bln. The Treasury has to cover, in the course of this year, a budget deficit of RON 24 bln, the equivalent of 4.4 pc of the GDP estimated for the end of this year.

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