Romanians can buy government bonds in the first days of 2023

Romanians can invest in Tezaur government securities, with maturities of 1, 2 and 3 years and annual interest rates of 7.35%, 7.60% and 8%, respectively, starting on Tuesday, January 3, 2023, the Ministry of Finance announces.

The interest rates offered for the three maturities were increased, compared to the level of the secondary market of government securities, by 0.25% for 1 year, 0.36% for 2 years and respectively 0.48% for the 3-year maturity. The measure was taken to increase the attractiveness and encourage longer-term placements, according to a press release from the Ministry of Finance.

This year, Romanians invested over 12 billion lei through 283,000 subscriptions in instruments of 1, 2, 3 and 5 years, remunerated with interests between 4.5% and 9.15%. State securities have a nominal value of 1 leu and are in dematerialized form.

The securities can be bought online, between January 3 and 24, 2023, only by natural persons who are registered in the SPV. The operations that can be carried out online are: opening a subscription account in the name of the investor at a selected State Treasury unit, subscription to Tezaur state securities, transfer of amounts from the investor’s subscription account to a bank account in the name of the investor.

Between January 3 and 25, 2023, state securities can be purchased from the State Treasury units, and between January 3 and 24, 2023 in the urban environment and January 3 and 23, 2023 in the rural environment, through the postal subunits of C.N. Romanian Post S.A.

The interest is annual, payable at the terms specified in the issue prospectus. Also, government securities issued under the Tezaur Program are transferable and can be redeemed in advance. An investor can make one or more subscriptions within an issue.

Investors have the possibility to cancel subscriptions already made only during the subscription period, by submitting a request. Natural persons who have reached the age of 18 on the date of subscription are eligible. The income obtained from investing in the savings offer launched by the Ministry of Finance is non-taxable.

The funds obtained by the Ministry of Finance as the issuer, as a result of the issue of state securities, will be used to finance the budget deficit and refinance the public debt.