Individual clients, major government stock buyers
The record of this year's trades with government stock show that individuals account for a higher share in these deals than foreign juridical persons or any other local company, notes daily Ziarul Financiar.
Overall, the same trend is visible in government stock held by client account categories. At the end of June 2008, individual residents were holding almost 11%, up from the 6% registered at the beginning of the year. At the same time, the share of non-resident juridical persons decreased from 28 to 22% over the first six months of the year.
With reference to the GDP, Romania's public debt is 20.16%, a quite low level, given the fact that the Maastricht requirement sets forth a maximum of 60% of the GDP.
Government securities with maturities of 3 and 5 years account for almost 44% of the government stock issued in H1, and T-bills with 6- or 12-month maturities represent the rest.
Among the goals targeted by the finance authority is the cut of refinancing degree for the public governmental debt, reducing interest, credit, liquidity and refinancing risks, as well as ensuring an as uniform as possible public debt service.