Romania borrows in Jan-Nov only 71% of year's financing needs

Romania's Government has borrowed about RON 97 bln (EUR 20 bln) in the first 11 months of this year, according to CursDeGuvernare calculations based on available official data.

The amount represents only 71% of the state's financing needs this year, namely the loans that the Government has to make to finance the budget deficit and public debt.

The Government issued one Eurobond less, compared to initial plans - and now it's running out of time after the political turmoil prevented the Executive from tapping the foreign markets.

The Government's strategy was to raise around EUR 10.5 bln this year with Eurobonds, and the two auctions so far have raised about EUR 7 bln.

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