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Government hit by the “invisible hand” of the market as its borrowing costs jump more than social spending

Romanian government borrowing costs rose by 25.5 percent during the first ten months of this year up to RON 11.2 billion (EUR 2.4 billion) as it pays higher interest rates in order to cover its soaring spending on wages and pensions, according to official data consulted by Business Review. in January-October 2017, interest expenses of the government amounted RON 8.9 billion. Interest expenses growth rate outpaced during the ...

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