The ministry of finances drew almost 50 million lei through bonds for 12 months, interest 7.48%

The ministry of public finances (MFP) drew, on Monday 499.99 million lei through an emission of bonds with maturity at 12 months, with interest 7.48% according to BNR. The initially announced value was 500 million lei and the maximum interest accepted was 7.50% per year. The banks presented buying requests of 1.96 billion lei. At the similar meeting of 21 December, the ministry of finances drew 670.62 million lei, interest 10% per year. During the first quarter of 2010, MFP proposed to draw 10-12 billion lei from the local market. During the first month of the year, the ministry of finances took from the market 5.77 billion lei, with 44% over the initially announced value.

The Romanian authorities proposed a budgetary deficit target of 5.9% of GDP for the end of this year.