Romania’s Finance Ministry has come up with a new program to borrow money directly from the population.

The program called Tezaur is part of the new strategy to manage the public debt between 2017 and 2019.

"In order to increase individuals’ accessibility purchasing government securities, we will introduce the Tezaur program, allowing the population to subscribe treasury certificates at State Treasury territorial units,” according to the Finance Ministry.

Authorities will also continue the Fidelis program, namely issuing government securities for individuals through the stock market.

The State Treasury currently has a buffer -the foreign currency reserve in the Treasury- of EUR 6.3 billion. At the end of May 2016, the buffer totaled EUR 5.9 billion. This means that its value increased by EUR 400 million in the last year.

editor@romania-insider.com

(photo source: Ministerul Finanţelor Publice - România on Facebook)