FINANCE&BANKING

FinMin Teodorovici: As of H2 Romania will borrow from the foreign market “for the coming years”

Minister of Public Finance Eugen Teodorovici said on Thursday in Bistrita that starting with the second half of this year Romania will start borrowing from the foreign market “for the coming years” because this could be done under more advantageous conditions for the country.

“Romania borrows exactly under market conditions, the same as other states do. The costs are not higher in the case of Romania than for other states and a very important thing: Romania this year will change the logic on government debt. In what way? In the next issue that Romania will make on the foreign markets, we will ensure exactly the financing demand for this year, and from the second part of the year we will finance ourselves as we want and we will impose market costs for the next year. Exactly as any other country does. Until now, Romania has borrowed in the current year for what it had to pay in that year. We have to change this philosophy and borrow already for the coming years, because we can do it at the costs we want as a country, because when we want to borrow we do it only if the price offered is the one that suits us,” Teodorovici said.

The minister added that the financing strategy is a public one and that the fact that Romania was given a 30-year loan shows investors’ confidence in our country. He also said that the loans will cover the budget deficit estimated for this year, but also the maturities.

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