According to the Ministry of Finance, the weighted average interest rate at primary auctions for government securities stood at 9.38% in the first five months of 2026. The yield on government securities, according to the Ministry of Finance, in the first five months of 2026 decreased slightly on average compared to the same period in 2025, falling from a range of approximately 9.6%–10.1% to the current weighted average of 9.38%.
Commercial banks primarily seek short-term government securities for rapid liquidity management. Yields on 182-day and 364-day Treasury bills at interbank auctions in early June 2026 stood at around 9.5%–9.9%. In May, 6.8 billion lei worth of government securities were sold, and 5.4 billion lei worth of previously sold securities were redeemed, which made it possible to net-finance budget expenditures after debt servicing.
The increase in public debt resulted from positive net financing in the primary government securities market in nominal terms amounting to 5,649.98 million lei, as well as – positive net financing from the direct placement of government securities among individuals in the amount of 216.52 million lei.
As of May 31, 2026, the country’s domestic public debt in nominal terms increased by 5,866.5 million lei compared to the beginning of the year and amounted to 57,861.33 million lei, according to the Ministry of Finance.
The growth of domestic public debt is accelerating in tandem with rising demand and supply for placements, given market conditions in the government securities market and the government’s need for funds. In May, it increased by 1.4 billion lei over the month, whereas in April it increased by only 377 million lei.
