Romania's public debt up to 27.92pc of GDP

Romania's public debt rose by 26.5 percent in July compared to end-2008 and reached 138.83 billion lei, accounting for 27.92 percent of the gross domestic product (GDP) revised for the year, according to data published by the Public Finance Ministry (MFP).

The government initially anticipated a GDP of 531.251 billion lei at year-end, corresponding to a 4 percent economic contraction, but revised estimates downwards to 497.3 billion lei in August, namely 8 – 8.5 percent economic contraction.

The total public debt stood at 109.75 billion lei at the end of 2008 and represented 21.78 percent of last year's GDP, according to the ministry of finances, NewsIn informs.

The weight of the public sovereign debt in the total debt increased by 1.58 percent versus the end of 2008, from 91.58 percent to 93.16 percent, while the local public debt stood at 6.84 percent of the total debt.

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