The Romania Minister of Finance Sebastian Vladescu says Government Securities will no longer be issued in 2006 or for the first three months of 2007.
The government plans to announce a budget revision for this year with the deficit ceiling set at 2.5 percent of GDP and a planned 2.8 percent in 2007.
“The Ministry of Finance has so far officially canceled all Government Securities auctions scheduled for the first 11 month of 2006 due to the excess in liquidities,” says an ING spokesman.