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External debt: Romania to pay RON 10bn for interests and commissions in 2018

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Romania is to pay RON 10 billion in 2018 for interests and commissions to the external debt, the projection on governmental public debt service conducted by the Finance Ministry reveals, romaniajournal.ro informs.

The statistic was available in the last month of 2017 and in the meantime the payment obligations could have increased, an analysis conducted by Curs de guvernare, quoted by ziare.com reads.

Considering the GDP level of RON 924 billion anticipated by the National Prognosis Commission (CNP) for 2018, this means that the payments will amount to 1.17% of GDP, given the accumulated debt of Romania of about 38% of GDP. This means that the 3% commission is paid only to keep the public debt at the same level.

In 2018, debts of RON 42 billion will have to be ‘rolled’.

The same source says that, most probably, the loans from the domestic market will be below RON 50 billion, whereas from the external market the envisaged loans will be of about EUR 5 billion.

The projection of the external debt service has been considered for an average exchange rate of RON 4.59 per EUR in 2018, down to RON 4.58 per EUR in 2019 and of RON 4.54 per EUR during 2021-2024 – levels regarded as rather optimistic by analysts.

 

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