Romania's Finance Ministry plans to draw lei 3bn through six auctions in February

MFP sponged 5.77 billion lei from the market this month, 44 percent more than initially planned.

Thus, the ministry aims to sell six-month securities worth 400 million lei on February 1 and to issue five-year bonds of 500 million lei on February 4.

At the third bid on February 8, MFP plans to issue discount treasury certificates maturing in a year worth a half million lei. On February 15, the Finance Ministry will organize another auction for six-month securities, worth 600 million lei.

The fifth bid of the month will take place in the 18th day, when the Finance Ministry will issue bonds maturing in three years, worth 500 million lei, and the last one on February 22, when one-year securities of 500 million lei will be issued.

The Public Finance Ministry plans to collect 10-12 billion lei from the local market in the first quarter. In 2009, MFP collected about 65 billion lei, up five-fold versus 2008.

The budget deficit target for 2010 is of 5.9 percent of the gross domestic product (GDP).