Romanian citizens have already lent the government close to EUR 7 billion in 2025 via the Fidelis and Tezaur dedicated state bonds schemes, exceeding last year’s record level, Profit.ro reported.
The Finance Ministry raised about RON 3.7 billion (EUR 740 million) in the latest monthly bond sales, bringing the total since January to RON 34.5 billion (EUR 6.9 billion). This surpasses the RON 32.7 billion collected from households in 2024, which marked an annual record.
Officials expect 2025 to set a new high for retail bond subscriptions, supported by strong appetite from households and a rising state borrowing requirement.
The ministry initially targeted RON 45 billion in retail financing this year, equal to 19.4% of its entire borrowing plan. That plan is expected to be revised upward at the upcoming budget rectification, with the government signalling that total borrowing needs could increase by more than RON 20 billion.
By comparison, in 2024, household investors contributed 13% of the state’s overall borrowing.
The Fidelis and Tezaur programmes allow Romanian citizens to lend money to the government in exchange for fixed-income securities, sold monthly through commercial banks and the State Treasury.
iulian@romania-insider.com
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