The Romanian Public Finance Ministry has increased the maximum amount that Romania can borrow from foreign markets, by EUR 3 billion, from EUR 15 billion to EUR 18 billion.

The Ministry needs a bigger financing amount, according to a draft law, cited by local Economica.net.

In November 2013, the Government almost doubled the maximum ceiling for issuing government securities on foreign markets, from EUR 8 billion to EUR 15 billion and expanded the program to cover the next three years, namely 2014-2016.

So far, the state has issued government securities on foreign markets worth EUR 12.82 billion.

editor@romania-insider.com