Romania's Finance Ministry has raised EUR 153 million through state titles, at an average yield of 6.74 percent, according to the country's Central Bank (BNR). The initial value of the bid was of EUR 117 million but banks have submitted offers for as much as EUR 267 million.

The Finance Ministry has plans to raise EUR 1.1 billion through state titles in September to finance the budget deficit and refinance the public debt. Last year, the ministry raised EUR 9.7 billion, while in 2010, over EUR 15 billion, fives times more than the year before.

editor@romania-insider.com

(photo source: Sxc.hu)