"We don't see a funding problem," chief economist of BCR bank Ciprian Dascalu said, speaking for Ziarul Financiar daily about Romania's gross financing need that will rise in 2022 by 7% compared to 2021.

The financing need, RON 145 bln (EUR 29 bln), will account for roughly the same share of GDP (around 11% of GDP), Dascalu explained.

The share remains high, though, despite the fiscal consolidation expected to bring the cash-based public debt from over 7% of GDP in 2021 to 5.8% of GDP in 2022.

BCR chief economist Dascalu also admitted that the public debt [-to-GDP ratio] will continue to increase and start to decrease only from 2024 when the chief economist of BCR also anticipates the significant reduction of Romania's financing needs, reported as a percentage of GDP.

iulian@romania-insider.com

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