Finance Ministry: Romania’s public debt up 12.6 pct in H1

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Romania’s public debt climbed 12.6 pct in the first half of the current year, hitting 123.61 billion lei, the equivalent of 23.27 pct of the Gross Domestic Product (GDP), the Public Finance Ministry (MFP) announced on Tuesday.

At the end of 2008, the public debt stood at 109.75 billion lei, accounting for 21.78 percent of the GDP.
According to the cited source, on June 30, 2009 a share of 64.10 pct of the total public debt was leu-denominated, and 25.30 was denominated in euro, whereas other currencies accounted for 10.60 pct of the total figure.

According to MFP data, government loans in the first half of the year stood at 41.19 billion lei, an amount raised through government stock issues on the domestic and international markets (40.64 billion lei), cash management instruments (350 million lei) and state loans (200.7 million lei).

The public governmental debt accounted for 92.88 pct of the total public debt, up 1.3 pct from the figure registered at the end of 2008; the debt of public local authorities accounts for the rest.

On June 30, 2009, the bulk of government securities in progress (68.98 pct) had a short term maturity of less than one year; 27.5 pct thereof were on the medium term (between one and five year) and just 3.52 pct had a longer maturity.

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