Gov’t debt down to 34.9pc of GDP in first six months 2018

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The public administration’s debt decreased slightly in the first six months of the year, reaching 34.9% of GDP in June 2018, against 35% of GDP in December 2017, although as nominal value the debt increased to RON 305.5 billion in June against RON 300.7 billion at end December last year, the Finance Ministry informs.

Most part of the debt, i.e. over RON 295 billion, is over medium and long term. The state bonds represent more than RON 246 billion.

By currency, de debt amounts to RON 149.5 billion and RON 126 billion is denominated in EUR.

The internal government debt amounts to RON 157 billion, the external debt amounts to RON 148.4 billion.

Out of the total government debt, the debt of the central public administration is of RON 291 billion, the debt of local administration amounts to RON 14.3 billion.

During the past five years, the debt of the public administration has decreased constantly as share of the GDP, from 37.5% of GDP in 2013 to 35% of GDP last year.

According to Eurostat figures, in the first quarter in 2018, the lowest level of government debt as share of GDP was recorded in Estonia (8.7%), Luxembourg (22.2%), Bulgaria (24.1%) and Romania (34.4%) and the highest levels in Greece (180.4%), Italy (133.4%) and Portugal (126.4%).

In the European Union, the level of government debt decreased from 81.6% of GDP in Q4 2017 to 81.5% of GDP in Q1 2018.

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