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Romania’s Public Debt Rises To 28.08% Of GDP In Jan-Sep

Romania’s public debt rose to 28.08% of the gross domestic product at the end of September from 21.78% of the GDP at the end of last year, according to Finance Ministry data released Wednesday.
Romania's Public Debt Rises To 28.08% Of GDP In Jan-Sep
18 nov. 2009, 14:54, English

End-September, the country’s public debt amounted to 140.09 billion lei (EUR1=RON4.2811), compared with RON109.75 billion at the end of 2008.

Government debt stood at 92.84% of Romanian total debt over the mentioned interval, while local authorities’ debt accounted for 7.16%.

The public debt-to-GDP ratio was calculated using an estimated GDP of RON498.9 billion for this year. In 2008, the GDP stood at RON503.9 billion.

The public debt in Romanian lei was at 55.2% of the total debt, while euro-denominated debt stood at 32.82%.

In the first nine months, Romania’s Finance Ministry sold state treasuries worth RON59.18 billion, compared with RON8.5 billion sold in January-September 2008.

In the third quarter alone, the ministry issued state treasuries worth nearly RON15 billion, with approximately RON7 billion representing bills issued in foreign currency on the local market.

Still in the third quarter, the ministry cashed in EUR1.5 billion from the European Commission and $1.36 billion from the International Monetary Fund, part of the EUR20 billion larger aid package Romania obtained from the two institutions and other lenders.