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September 24, 2020

Finance Ministry has drawn RON 1.2 bln in treasury certificates

The Ministry of Public Finance (MFP) has raised nearly RON 1.2 bln through one year treasury certificates with an yield of 6.61 per cent upon maturity, HotNews.ro reports. The interest rate ceiling stood at 6.65 per cent. The original issue was worth RON 1.2 bln, and banks submitted buy orders of RON 4.81 bln. The MFP plans to draw RON 4.3 bln in June and RON 13-15 bln in the second quarter in order to fill the budget deficit and refinance public debt. Last year, MFP drew less money than intended from the market and rejected a number of tenders as it did not accept to pay an interest higher than 7 per cent a year. For this year, Romanian authorities set out a budget deficit target of 4.4 per cent GDP.

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