SIMILAR ARTICLES

Mugur Isarescu: “Ordinance weird thing” reduces monetary policy efficiency, which will not help Government

The National Bank of Romania (BNR) will convoke the National Committee for Macro-prudential Supervision, where the Ministry of Finance will be required to clarify the… Mai mult

World Bank lowered prospects on Romania’s economic growth for 2019 and 2020

  Romania’s economy will record an advance of 3.5% in 2019 and 3.1% in 2020, down one percentage point from June 2018 forecast, according to… Mai mult

Iasi – Tg.Mures highway disappeared from Large Infrastructure Operational Programme 2021-2027

The Ministry of European Funds has taken out Iasi-Tg. Mures highway project from the Large Infrastructure Operational Programme 2021-2027 and the Ministry of Transport already… Mai mult

State is borrowing at increasingly higher costs – government bond yield reached 5.33% per year

The benchmark government bond yield jumped above the 5% threshold on Thursday. The Ministry of Public Finance (MFP) attracted RON 300 million from banks on… Mai mult

Senate postpones discussions on DNA’s request on waiving immunity of Calin Popescu Tariceanu until February 2019

The Senate has decided that it will put to the vote the decision to waive Calin Popescu Tariceanu’s immunity only in the spring session, that… Mai mult

Cronicile

Ministry of Finance planned loans of RON 4.74 billion in November. Costs are increasing

de Adrian N Ionescu , 5.11.2018

The Ministry of Public Finance (MFP) intends to borrow in November RON 4.74 billion, 1.4% more than in the previous month, according to the Ministry.

The financing attracted in October was RON 4.675 billion, the highest level since January and by 18.8% above September.

The Government’s growing need for money pushes the cost of loans up. For the 10-year benchmark maturity, the cost of funding the state has increased to levels higher than last year.

On the other hand, it is even more pronounced the cost increase compared to last year as a result of the urgent need for financing.

We can notice the upward trajectory in the yield curve, because of the increase in costs of shorter term loans.

*

Yield curve in Romania

*

The consolidated general budget deficit in the first nine months of 2018 increased by almost RON 10 billion compared to the same period of last year and climbed to RON 16.8 billion (1.77% of the estimated GDP), according to the data published by the Finance Ministry.

Personnel costs were up by almost RON 13 billion.

37% of the amount of RON 26.4 billion spent above the same period of last year went to supplementing payments to public sector employees and to social assistance, while less than a quarter of the extra money was allocated to projects implemented with non-reimbursable external financing, capital expenditure and to goods and services.

MFP’s plans for November target:

  • an issuance of treasury bills worth RON 600 million (with a one-year maturity), by 30% less than in the previous month.
  • eight government bond auctions for raising RON 3.6 billion, by 9% more than in the previous month:
    • four auctions of RON 600 million each;
    • two of RON 300 million each;
    • one of RON 200 million and one of RON100 million;
  • additional sessions of non-competitive offers of RON 540 million, by 9% more than in October:
    • four of RON 90 million each;
    • two of RON 45 million each and
    • one of RON 60 million and another of RON 30 million.

The amount attracted by Romania on foreign markets amounts to EUR 4.75 billion in 2018 (over RON 22 billion) – of which EUR 3.75 billion and USD 1.2 billion.

Mergeți în homepage ›

Publicat la data de 5.11.2018

Lăsați un comentariu


NEWS

Mugur Isarescu: "Ordinance weird thing" reduces monetary policy efficiency, which will not help Government

The National Bank of Romania (BNR) will convoke the National Committee for Macro-prudential Supervision, where the Ministry of Finance will be required to clarify the… Mai mult

World Bank lowered prospects on Romania's economic growth for 2019 and 2020

  Romania's economy will record an advance of 3.5% in 2019 and 3.1% in 2020, down one percentage point from June 2018 forecast, according to… Mai mult

State is borrowing at increasingly higher costs - government bond yield reached 5.33% per year

The benchmark government bond yield jumped above the 5% threshold on Thursday. The Ministry of Public Finance (MFP) attracted RON 300 million from banks on… Mai mult

Iasi - Tg.Mures highway disappeared from Large Infrastructure Operational Programme 2021-2027

The Ministry of European Funds has taken out Iasi-Tg. Mures highway project from the Large Infrastructure Operational Programme 2021-2027 and the Ministry of Transport already… Mai mult

Senate postpones discussions on DNA’s request on waiving immunity of Calin Popescu Tariceanu until February 2019

The Senate has decided that it will put to the vote the decision to waive Calin Popescu Tariceanu's immunity only in the spring session, that… Mai mult

Implementation of 5G technology, a multiplication effect in economy of EUR 4.7 billion - announces Sorin Grindeanu (ANCOM)

The National Authority for Management and Regulation in Communications (ANCOM) launched on Wednesday the National Strategy for the Implementation of 5G Technologies in Romania for… Mai mult

FIC: Amendments on Criminal Codes expose business environment to abuses from civil servants

Some of the amendments to the criminal codes will generate mistrust regarding Romanian state's ability to ensure the legality, stability and predictability of business relationships… Mai mult

European Semester / European Commission asks Romania to correct its medium-term structural deficit by 1% of GDP

Minister Eugen Teodorovici is pressured by the EU to reduce the budget deficit After finding that the Government has done nothing to adjust the deviation… Mai mult

Sovereign Fund gets legal base. Details announced by Minister Teodorovici

The Government adopted on Thursday the ordinance that provides for the general framework for the establishment of a Sovereign Fund. Later, after new talks with… Mai mult

Ford is looking for 1,700 employees to produce EcoSport SUV model

The representatives of Ford Craiova met on Wednesday with mayors of 30 localities from Dolj county in order to stimulate the attraction of 1,700 new… Mai mult

Development strategy / Government squeezes even investment money from its own companies: EUR 120 million from only two entities in energy field

Nuclearelectrica (SNN) and Romgaz (SNG) have calculated the additional dividends to be paid to the state after the Ministry of Finance (MFP) sent to the… Mai mult

DNA, officially: Senate President is suspected of having received a USD 800,000 bribe. Case file opened at a request from Austrian judicial authorities

The case file in which the DNA requested the waiving of the Senate President’s immunity was opened at the request of Austrian judicial authorities and… Mai mult

Illegal state aid / European Commission demands Romania to recover EUR 60 million from CE Hunedoara

Romania has to recover illegal state aid worth EUR 60 million granted to Compexul Energetic Hunedoara, announced the European Commission with a statement released on… Mai mult

Ministry of Finance planned loans of RON 4.74 billion in November. Costs are increasing

The Ministry of Public Finance (MFP) intends to borrow in November RON 4.74 billion, 1.4% more than in the previous month, according to the Ministry.… Mai mult