{"id":12771,"date":"2026-11-03T09:00:53","date_gmt":"2026-11-03T09:00:53","guid":{"rendered":"https:\/\/ofero.news\/?p=12771"},"modified":"2026-11-03T09:00:53","modified_gmt":"2026-11-03T09:00:53","slug":"bnr-official-warns-romania-must-address-public-debt-refinancing-alongside-deficit","status":"publish","type":"post","link":"https:\/\/ofero.news\/?p=12771","title":{"rendered":"BNR official warns Romania must address public debt refinancing alongside deficit"},"content":{"rendered":"<p>Romania must focus on refinancing its public debt as well as reducing its budget deficit, as debt repayments are putting pressure on the country\u2019s international reserves, Cristian Popa, a member of the Board of Directors of the National Bank of Romania (BNR), said on November 2, according to <a href=\"https:\/\/agerpres.ro\/economic\/2026\/11\/02\/popa-bnr-refinantarea-datoriei-publice-trebuie-sa-fie-o-prioritate-zero-nu-e-de-gluma--1609120\">Agerpres<\/a>.<\/p>\n<p>Popa said Romania faced a budget deficit of approximately 6% of GDP while also needing to refinance public debt equivalent to about 7% of GDP maturing this year.<\/p>\n<p>Romania no longer has a small public debt; it needs to be continuously refinanced.<\/p>\n<p>\u201cRomania no longer has a small public debt; it needs to be continuously refinanced,\u201d he said.<\/p>\n<p>The central bank official highlighted the impact of government financing operations on the BNR\u2019s international reserves, citing a payment of EUR 2.7bn made on behalf of the Ministry of Finance in September. Of that amount, EUR 2.5bn was used for debt refinancing, contributing to a significant reduction in international reserves at the end of the month.<\/p>\n<p>Popa said Romania needed to address its financing requirements and maintain investor confidence as it continued efforts to meet its fiscal targets and preserve its investment-grade rating.<\/p>\n<p>\u201cIt&#8217;s no joke, we need to discuss more, not just about the deficit, but also about public debt [&#8230;] in front of the investors. I personally meet with many [investors]; it&#8217;s hard, it&#8217;s becoming increasingly difficult to convince them, to be credible, to keep their trust. The battle for convincing the rating agencies is not over yet,\u201d he said.<\/p>\n<p>The official added that Romania needed to continue meeting its commitments despite the rating agencies\u2019 decision to maintain the country\u2019s investment-grade status.<\/p>\n<p>\u201cThat is an achievement, the fact that the rating agencies affirmed Romania\u2019s investment-grade rating, but the challenges remain high and are not only related to the deficit,\u201d Popa said.<\/p>\n<p>His remarks came as Romania continued to manage its financing needs through domestic borrowing and international debt issuance, while seeking to bring its budget deficit under control.<\/p>","protected":false},"excerpt":{"rendered":"<p>Romania must focus on refinancing its public debt as well as reducing its budget deficit, as debt repayments are putting pressure on the country\u2019s international reserves, Cristian Popa, a member of the Board of Directors of the National Bank of Romania (BNR), said on November 2, according to Agerpres. Popa said Romania faced a budget [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-12771","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/12771","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12771"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/12771\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12771"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12771"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12771"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}