The Romanian Ministry of Public Finance (MFP) sold Monday treasury certificates with discount  worth EUR 27.1 million (RON 116.8 million), at an average yield of 6.83 percent per year, according to the Romanian Central Bank (BNR).

The initially value announced for the auction was of EUR 187 million (RON 800 million), and banks had filed requested of about EUR 363 million (RON 1.55 billion). The Ministry of Finances rejected offers which exceeded the 6.83 percent yield.

MFP aims to attract about EUR 950 million (RON 4 billion) by issuing government securities in October, to finance the budget deficit and refinance debt. The Romanian authorities have proposed for this year a deficit target of 4.4 percent of the country's GDP.

Irina Popescu, irina.popescu@romania-insider.com

(photo source: Sxc.hu)