MFP intends to draw about 12 billion lei on market in first quarter

The Ministry of Public Finance (MFP) intends to draw between 10 and 12 billion lei in the first quarter 2010 through T bond issues on the domestic market, according to the calendar published on the site of the above-mentioned ministry.

According to MFP, the total amount of T bond loans that are to be launched on the domestic market in 2010 is determined by the level of the budget deficit (5.9 percent of the GDP), about 50 percent of which is to be funded by the domestic market, as well as by the level of the state bond refinancing, bonds that are to be mature in 2010, namely 24.59 billion lei for the current portfolio of government bonds.

They also consider drawing resources from international capital markets depending on the development of financial markets and the opportunities offered by these markets.

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