Romania's Finance Ministry borrows EUR 90 mln from commercial banks

The Finance Ministry borrowed yesterday EUR 90 million from commercial banks through an auction of five-year bonds. The average yield amounted to 2.75% per year. Demand from banks reached EUR 220.4 million, reports local Agerpres. The state will organize today, May 22, an additional session to attract another EUR 13.4 million. In May, the Finance Ministry plans to raise some EUR 493 million. It will use it to refinance public debt and finance the state budget deficit. The Ministry will organize an auction of treasury bills on May 25. editor@romania-insider.com