Romania's public debt rose 14.9% in October

Romania’s public debt increased by 14.9%, to nearly 93.74 billion lei (25.6 billion euros) in December 31 2007 – October 31 2007 interval, equivalent to 18.6% of gross domestic product estimated for 2008, according to Ministry of Economy and Finances.

At the end of last year, the total public debt amounted to 81.59 billion lei, equivalent to 20.16% of 2007 GDP.

According to MEF report, the share of lei-denominated government public debt in total government debt was more than half after first ten months of this year, namely 54.9%, 11.3% share of US dollars-denominated public debt, and 2% share of yen-denominated debt.

As for the instrument type, state loans account for over a third (35.3%) of the government public debt, 10.4% share of treasury bonds, 9.1% - Eurobonds, while 4.7% of the debt was contracted as treasury bills and 0.2% as financial leasing, according to MEF report. Other resources accounted for 40.2% of the government public debt.

Compared to end-2007, the share of the public government debt in the total debt fell more than 1%, from 93.35% to 92.05% while the local public debt weighed 7.95% of the total debt at the end of October, compared to 6.65% in December 2007.

The share of negotiable debt climbed to 24.27% at the end of October 2008, from 22.82% in December 2007, the remaining share in the public debt being non-negotiable debt.

Ministry of Economy and Finances took into account, for the gross domestic product, the latter forecasts of National Commission of Prognosis for this year, namely 505 billion lei.


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