Money borrowed from internal market immediately return to economy
The Minister of Finance Gheorghe Pogea said on Wednesday that the institution he is ruling borrowed 27 billion lei from the internal market, but this money returns to the circuit by the payment of of wages and pensions.
‘The loan which Romania secured or the treasury bills and bonds have two destinations – refinancing and reimbursement of instalments due in the first three months of the year, ‘ said Gheorghe Pogea at the end of the Government’s meeting.
He explained that the money which the Ministry of Finance takes from the market returnw immediately to the same market, being destined for payments, wages, pensions, investments, credit release authorities which are paying the service providing companies.
‘Money is not retained in a separate account, but is immediately introduced into economy,’s aid minister Pogea.
President Traian Basescu said on Tuesday in a televised broadcast that the Ministry of Finance borrowed for paying salaries an pensions in time.