Romania will start borrowing from the population on a monthly basis

Romania’s Finance Ministry will start selling government securities to the population every month starting January next year. It previously announced that it would launch this program in the fall of 2017. Romanians will be able to take part in this program if they open an account at the Treasury, where they can deposit money. The account will be used for acquisitions. The treasuries will have a nominal value of RON 1 (EUR 0.2), will not be transferable and can’t be traded. Romanians investing in government bonds will have the money blocked until these reach the maturity date. They will receive monthly interest during this period. The amounts attracted by selling governments bounds to the population accounted to 1% of the Romanian state’s gross financing need in 2016, according to a government document. Romanians held some RON 172 billion (EUR 15.5 billion) in bank accounts at the end of October this year. editor@romania-insider.com