SIMILAR ARTICLES

Romania’s GDP exceeded Portugal’s in 2018: which has a population two times lower and a GDP/inhabitant twice as high

Romania’s economy exceeded, at current prices in euros, Portugal’s economy in 2018, a country with a population and a surface two times smaller as Romania.… Mai mult

The two OUGs on judiciary for the three files are ready and submitted to Government

The Justice Ministry has prepared the two OUG drafts for which the coalition has put much pressure on the Justice Minister Tudorel Toader before granting… Mai mult

ECOFIN / Tax havens list has been updated. Politico: Eugen Teodorovici took EU Finance Ministers by surprise

Finance Ministers of the EU voted on Tuesday at the third meeting of the Council for Economic and Financial Affairs (ECOFIN) chaired by Romania, the… Mai mult

March 15, 15:00, for 15 minutes: Romania really wants highways!

Dozens of companies, mayoralties, sports teams, public figures, organizations and many ordinary people joined the protest “Romania wants motorways”. Of course, the country did not… Mai mult

Facebook has removed 30 pages and PSD propaganda accounts in Romania

Facebook announced Thursday that it has closed hundreds of false accounts promoting false content in the UK and in Romania and this is the first… 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

Romania's GDP exceeded Portugal’s in 2018: which has a population two times lower and a GDP/inhabitant twice as high

Romania's economy exceeded, at current prices in euros, Portugal's economy in 2018, a country with a population and a surface two times smaller as Romania.… Mai mult

The two OUGs on judiciary for the three files are ready and submitted to Government

The Justice Ministry has prepared the two OUG drafts for which the coalition has put much pressure on the Justice Minister Tudorel Toader before granting… Mai mult

ECOFIN / Tax havens list has been updated. Politico: Eugen Teodorovici took EU Finance Ministers by surprise

Finance Ministers of the EU voted on Tuesday at the third meeting of the Council for Economic and Financial Affairs (ECOFIN) chaired by Romania, the… Mai mult

March 15, 15:00, for 15 minutes: Romania really wants highways!

Dozens of companies, mayoralties, sports teams, public figures, organizations and many ordinary people joined the protest "Romania wants motorways". Of course, the country did not… Mai mult

Facebook has removed 30 pages and PSD propaganda accounts in Romania

Facebook announced Thursday that it has closed hundreds of false accounts promoting false content in the UK and in Romania and this is the first… Mai mult

Laura Kovesi, indicted in a second case opened by Magistrates' Investigation Section

Laura Codruta Kovesi was indicted on Thursday in a second case. The section for investigating the crimes committed by magistrates accused her of having led… Mai mult

Gold reserve was still untouched: Populist diversion or another act against the BNR’s independence

The draft law on the so-called repatriation of Romania's gold reserve is either a populist diversion or another attempt to remove gold from the administration… Mai mult

Magistrates’ protest, extended to 80 courts and prosecutors' offices. List of requests

The protest of magistrates from Cluj Napoca. More than 200 prosecutors and judges, with white bands on their arm, came in front of the local… Mai mult

Laws on judiciary, amended again by OUG: judges who were once prosecutors may be appointed as prosecutors

The Government approved on Tuesday an OUG that was not publicly debated, which amends several provisions from laws on the judiciary that refer to prosecutors… Mai mult

"Iceberg" operation: ANAF announces that it selected 487 companies which are to be audited based on risk analysis

Virgil Pirvulescu, Vice President of ANAF at PwC Annual Tax Conference The National Agency for Tax Administration (ANAF) has identified 487 large and medium-sized companies… Mai mult

Commissioner Corina Cretu: There is a risk that Magurele Laser will not be completed during this budget implementation

In the absence of a rapid response from the Romanian Government to the European Commission, there is a risk that Magurele Laser can no longer… Mai mult

Romania joins countries that recognize Juan Guaidó as interim president of Venezuela

The Presidential Administration announced on Friday that President Klaus Iohannis, "as the head of Romania’s foreign policy decisions and Romania's representative at the external level,… Mai mult

AmCham Romania: Counterproductive public policies have reched an alarming level

Further to the message on the impact of OUG 114/2018 transmitted on Thursday to the organizations in the Coalition for Development of Romania (CDR), AmCham… Mai mult

Finance minister stopped borrowing money from the market. Teodorovici: We have funding resources for minimum six months

Minister of Public Finance (MFP), Eugen Orlando Teodorovici, has ordered to stop borrowing operations on the market because MFF would have all the money needed… Mai mult

BNR: If we sold foreign currency to defend Romanian leu, as PSD wants, interest rates would explode and ROBOR would go over 5-7 percentage points

The National Bank of Romania wants a "loyal cooperation" with the Ministry of Public Finance, and that involves a prior consultation with the central bank… Mai mult