19 Februarie 2009

Isarescu: The required financial support of the public sector could reach 4 bln euro

The external public debt does not imply the risk of financing gap and does not exert any pressure on the currency exchange rate, equating 10.7 bln euro at the end of last year, of which 1.6 bln euro maturing this year, said the governor of National Bank of Romania, Mugur Isarescu.

“The external debt of the government sector was 10.7 bln euro in December 31, 2008 of which 1.6 bln euro matured this year. Depending on the decision of the government and budget plan approved by the Parliament, budget deficit, the required financing could reach 2-3 or even 4 bln euros”, said Isarescu.

BNR governor added that the funds required for the reshuffle of the development fund can be added to these amounts. “The sum required for the public sector can exceed 1.6-2 bln euro. The amounts can be compensated, at least partially, by the pre-accession or structural funds or by the already-contracted loans”, said Isarescu.

He pointed out that the government sector could borrow more than it needed, in order to pave the way for the financing of the non-government sector, as a financing gap looms ahead, tangible in substantially lower cash inflows than potential exits.

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