Romania's Public Debt Rose To 28.08% Of GDP In The First Nine Months

Romania’s public debt rose to RON140.09 billion (EUR1=RON4.2811) at the end of September compared with RON109.75 billion at the end of 2008, reaching 28.08% of the gross domestic product from 21.78% of the GDP at the end of December, according to Finance Ministry data released today.

 

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.

 

Romania's Finance Ministry sold state treasuries worth RON59.18 billion in January-September compared with RON8.5 billion sold in same period of 2008.

 

In July-September, the ministry issued state treasuries worth nearly RON15 billion, with approximately RON7 billion representing bills issued in foreign currency on the local market.