Romanian FinMin blames his Liberal predecessors for excessive borrowing

Romania must borrow RON 80 bln (EUR 16 bln) this year to "rollover" the debts made by the previous governments, finance minister Adrian Caciu said.

However, his ministry pushed up the public debt at a similarly fast pace this year. In 2021, Romania's public debt increased by EUR 15.5 bln - while it leapt up by another EUR 4.1 bln in the first two months of 2022.

Minister Caciu also claimed that the National Anticorruption Directorate (DNA) is investigating how the former governments have used the borrowed money.

"From what I understand, from public sources, DNA said that there are 93 cases under investigation. Part of the money was probably not legally spent," he stated, according to Profit.ro.

For the whole year 2022, the government has a gross financing need of RON 145.4 bln, according to the Ministry of Finance, the amount being formed by the budget deficit of RON 77 bln and the volume of debt to be refinanced in 2022, in the amount of about RON 68.4 bln - the government announced in January.

(Photo source: Inquam Photos/Octav Ganea)