Romania has issued bonds in euros and dollars to reduce the budget deficit

Romania launched a bond issue on international markets on Wednesday, marking the first such action of this year, in the context of improving investor perception following the adoption of necessary reforms to reduce the budget deficit. The issue includes euro-denominated bonds maturing in 2033 and 2044, as well as dollar bonds maturing in 2036. The seven-year euro bonds are quoted at 250 basis points above the mid-swap rate, while the ten-year bonds are at 325 basis points. The annual financing plan for this year anticipates a budget deficit between 6% and 6.4% of GDP, with a public debt estimated at 265-275 billion lei. The Ministry of Finance estimates that it will contract approximately 21 billion euros from the external market, including through the issuance of euro bonds amounting to 10 billion euros.