The ministry plans to tap international markets of around EUR14 billion with eurobond issues in the period Feb 2020-2022.
During this period, Romania will have to redeem EUR3.84 billion worth of eurobonds reaching maturity.
Romania’s financing needs stipulated in the 2020 budget amount to RON86.9 billion, of which RON40 billion is the estimated deficit of 3.6% of GDP and the remainder represents refinancing of public debt.
The finance ministry plans to raise RON55-57 billion selling bonds on the local market this year, and EUR6 billion through eurobond sales on international markets. Romania has already raised half its eurobond target..
According to the ministry’s calendar, Romania will seek to raise EUR3 billion in 2020, EUR5.5 billion in 2021 and EUR5.5 billion in 2022 via eurobond issues under the Medium Term Notes program.