AcasăEurope NewsGovernment debt-to-GDP ratio climbs to 50 pct as of end May

Government debt-to-GDP ratio climbs to 50 pct as of end May

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The government debt as of end-May 2022 was RON 614.338 billion, up from RON 602.871 billion in the previous month, shows data centralized by the Finance Ministry, write Agerpres.

The government debt-to-GDP ratio rose to 50 percent from 49.2 percent at the end of April.

The medium- and long-term debt stood at RON 595.228 billion, while the short-term debt dropped to RON 19.110 billion.

Government securities account for the bulk of this amount – specifically RON 508.012 billion, while loans total RON 96.202 billion.

RON 276.535 billion of the government debt was in local currency, as much as RON 281.56 billion is denominated in euros and RON 54.854 billion is the equivalent of debt in US dollars.

At the end of May, the central public administration accounted for RON 597.478 billion of the public debt, of which RON 578.385 billion due in the medium and long term. The bulk of the central government debt is in euros (the equivalent of RON 278.74 billion) and in RON (262.5 billion).

The local public administration accounts for RON 16.861 billion of the government debt, with RON 16.843 billion in the medium and long term.

According to the Public Finance Ministry, the public administration’s foreign debt was RON 315.596 billion (25.7 percent of GDP), of which the central public administration accounts for RON 310.888 billion and the local public administration for RON 4.708 billion.

Source: AGERPRES

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