Romania`s Finance Ministry gets lei 983m through three-year bonds

The ministry planned to collect 950 million lei. Banks' offers amounted to more than 1.9 billion lei.  The maximum yield accepted was of 10 percent a year.

At the similar bid on August 20, MFP placed benchmark bonds maturing in three years of 301.75 million lei, at an average annual yield of 10.24 percent. 

The Finance Ministry plans to draw 6 billion lei in September through treasury certificates maturing in six and 12 months and benchmark bonds with three and five-year maturity, after it issued state securities of more than 51.2 billion lei in the first eight months. It already collected 2.5 billion lei after four auctions.

Romania's budget deficit widened in the first eight months to 4.4 percent of the gross domestic product (GDP), according to the Finance Minister, Gheorghe Pogea. 

The International Monetary Fund (IMF) revised the target agreed with the Romanian authorities on the budget deficit at 7.3 percent of the GDP this year, versus 4.6 percent as previously established. Moreover, the Fund will allot about 1.75 billion euros from the second installment of the loan granted to Romania to cover the budget gap.