Romania has already secured half of the funding planned for 2026

Romania has secured 49% of the financing planned for 2026, and the developments in the national budget implementation have allowed to keep up a balanced pace of loans, without the need for the pre-financing used in previous years, according to acting Finance Minister Alexandru Nazare."Romania maintains investor confidence, and financing remain in a straight line in the middle of the year. Romania already has half of the funding planned for 2026 secured. At this moment, the state's financing plan is 49% completed, exactly halfway through the calendar year. It is a pace in line with the strategy established by the Ministry of Finance and, thus, Romania does not need pre-financing - as was done in previous years, when the government borrowed in the first part of the year more than the immediate need, in order to protect itself in case of difficult periods on the international financial markets", the minister wrote on Friday in a social media post.According to him, the implementation of the national budget and the financing plan allowed the government this year to keep up a balanced pace of loans, without resorting to pre-financing.He says that, on the domestic market, the plan is 58% completed and on the foreign markets it is 35% completed. In his opinion, the difference is natural, given that domestic financing is carried out through auctions organised every month, while external financing depends on when conditions on the international markets are favourable, and also on the calendar in which European funds and loans from international financial institutions are available."The Romanian state does not borrow from a single source. Some of the money is also borrowed from the domestic market through government bonds - financial instruments through which banks, pension funds, investors and the population lend to the state for fixed periods. Another part comes from the international markets, through bond issues in foreign currency, from European funds and from loans granted by international financial institutions. The diversification of these sources is important, because it reduces dependence on a single market and allows the state to choose, each time, the best financing conditions."According to Nazare, the Finance Ministry has so far borrowed RON 58.6 billion in government bond issues on the domestic market, respecting the monthly average provided since the beginning of the year."This represents the return to the planned pace after a period in which the financial markets were marked by volatility, and the Ministry of Finance adapted the volumes auctioned to avoid borrowing at higher costs. In the first two months of the year, investor interest was very high. Subsequently, in March and April, international tensions and domestic political uncertainty reduced demand for government bonds," he added.With the stabilisation of the markets starting in May, demand has returned, and Romania's auctions have again recorded solid results, the minister said."The Ministry of Finance is constantly adapting the loan calendar to market conditions. When investor demand is lower, volumes are adjusted to avoid higher costs for the state. When the conditions are favourable, investors' interest significantly exceeds the announced amounts, which allows attracting financing under advantageous conditions. In June, investor demand exceeded by about 70% the amounts offered, and already in the first auctions in July the interest remained high - a signal that investors' confidence in Romania's ability to implement its fiscal and financing plan remains stable."A solid budget implementation in the first 5 months of the year contributed to this development, he said."The budget deficit has decreased to 1.75% of GDP, as against 3.35% in the same period last year, which means a decrease by RON 28.3 billion. This result reduced the pressure on financing needs and allowed the state to borrow at a balanced pace, without putting unnecessary pressure on financing costs. At the same time, at Finance Ministry we maintain a permanent dialogue with the international rating agencies, which assess Romania's ability to finance itself and influence investor confidence. These days we are intensely preparing the next meetings with the agencies, which start next week, both in physical format and online," the official said.The minister also says that it is mandatory for Romania to keep its country rating so that financing remains straight.