Romania sells 2.4 bln euro worth of govt securities to households in 2022

Over 2022, Romanians invested in government securities with maturities of up to five years, with interests between 4.5% and 9.15, the finance ministry said in a press release.

The ministry also said that it is offering three issues of fixed-rate government securities to individual investors, without setting a target for the amount it wants to raise in the three-week subscription period starting January 3.

The 'Tezaur' government securities of 1 leu in par value each will be issued with maturities of 1, 2 and 3 years and annual interest rates of 7.35%, 7.6% and 8%, respectively.

This compares to interest rates of 2% to 9.25% for one-year bank deposits, 7% to 9.6% for two-year deposits and 7.2% to 9.8% for three-year deposits, according to data published by the biggest local banks.

Coupon payments on the issues are due annually. The income from coupon payments is non-taxable in Romania.

The proceeds from the issuance of government securities will be used to finance the budget deficit and refinance public debt, the ministry said.

(1 euro=4.9458 lei)