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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Romania’s financing needs are EUR 24-25 bln this year

Romania will borrow EUR 7-7.4 billion from the foreign markets and RON 85-87 bln (EUR 17.4-17.8 bln) from the domestic market this year, according to the Finance Ministry. The sum includes EUR 1.4 bln to be drawn from international financial institutions.

Meanwhile, Romania will have to repay USD 2.01 bln (EUR 1.7 bln) worth of Eurobonds that will mature, Hotnews.ro reported.

Thus, Romania's financing needs are estimated at RON 119-123 bln (EUR 24.4-25.2 bln), or nearly 11% of GDP.

The public deficit is expected to reach 7.16% of GDP - but part of it is already financed by the EUR 2.5 bln Eurobond issue carried out last December.

According to their latest internal survey in February, CFA Romania analysts expect the borrowing this year to push up the country's debt-to-GDP ratio to 52% in 12 months, from 47.7% at the end of 2020.

andrei@romania-insider.com

(Photo source: Pexels.com)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at andrei@romania-insider.com. 

 

Romania’s financing needs are EUR 24-25 bln this year

Romania will borrow EUR 7-7.4 billion from the foreign markets and RON 85-87 bln (EUR 17.4-17.8 bln) from the domestic market this year, according to the Finance Ministry. The sum includes EUR 1.4 bln to be drawn from international financial institutions.

Meanwhile, Romania will have to repay USD 2.01 bln (EUR 1.7 bln) worth of Eurobonds that will mature, Hotnews.ro reported.

Thus, Romania's financing needs are estimated at RON 119-123 bln (EUR 24.4-25.2 bln), or nearly 11% of GDP.

The public deficit is expected to reach 7.16% of GDP - but part of it is already financed by the EUR 2.5 bln Eurobond issue carried out last December.

According to their latest internal survey in February, CFA Romania analysts expect the borrowing this year to push up the country's debt-to-GDP ratio to 52% in 12 months, from 47.7% at the end of 2020.

andrei@romania-insider.com

(Photo source: Pexels.com)

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