End-May, the public debt reached 37% of the gross domestic product.
The wider debt was mostly due to a three-year bond issue on the local market, which brought the ministry EUR939 million at the beginning of the month.
The public debt-to-GDP ratio was calculated using an estimated GDP of RON542.03 billion for 2011. A year earlier, Romanian GDP was RON513.6 billion.
Government public debt was 94.25% of the total debt in May, while local authorities’ debt accounted for 5.75%. (EUR1=RON4.2356)