Romanias public debt up 15.8% y/y at end-Aug 2011.

By bne IntelliNews November 1, 2011
Romanias public debt increased by 15.8% y/y to RON 207.6bn (EUR 49.16bn) at the end of August 2011, according to a finance ministrys report. While the forex denominated public debt edged up by less than 9% y/y to EUR 25.2bn, the local currency denominated debt surged by nearly 25% y/y to RON 101.3bn (EUR 24bn). Under the ministrys methodology, the data includes the borrowing from the Treasurys reserves, which was 15% of total public debt at the end of the month. The countrys public debt thus reached 38.2% of the GDP at the end of August, under the ministrys methodology, marginally up from 37.9% of GDP at the end of last year but more consistently up from 34.9% of GDP at the end of August 2010. The public debt, not including the borrowing from the Treasurys reserves, was however only 32.5% of the GDP at the end of August, according to our calculations, up from 30.8% at the end of last year and 28.3% at the end of August 2010.
Public Debt (eop)
2008 2009 2010 Aug-11 y/y ytd
Total, RON mn 109,752 148,055 194,459 207,572 15.8% 6.7%
Total, EUR mn 27,540 35,016 45,383 49,155 16.0% 8.3%
RON denominated, % of total 59.60% 47.50% 46.21% 48.8% - -
Forex denominated, % of total 40.40% 52.50% 53.79% 51.2% - -
RON denominated, EUR mn 16,414 16,633 20,972 23,983 25.0% 14.4%
Forex denominated, EUR mn 10,961 18,383 24,412 25,172 8.6% 3.1%
RON denominated, RON mn 65,412 70,326 89,860 101,274 24.7% 12.7%
Forex denominated, RON mn 43,680 77,729 104,600 106,298 8.3% 1.6%
% of GDP 21.8% 30.0% 37.9% 38.2% n.a. n.a.
RON to EUR1 3.99 4.23 4.28 4.22 n.a. n.a.
Source: Ministry of Finance, IntelliNews calculations

Romanias public debt up 15.8% y/y at end-Aug 2011.

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