Romanians can invest, starting Monday, in TEZAUR government securities, with maturities of 1 and 3 years with annual interest rates of 6% and 6.75% respectively, informs the Ministry of Finance (MF).
The government securities have a nominal value of 1 leu and are in dematerialised form.
Government securities can be purchased between 12 February 2024 - 7 March 2024 online only by individuals who are registered in the SPV (private virtual space, tax payment platform, editor's note) for securities launched through State Treasury units. The operations that can be carried out online are: opening a subscription account in the investor's name at a selected State Treasury unit, subscription of TEZAUR government securities, transfer of the amounts from the investor's subscription account to a bank account in the investor's name.
Also, between February 12, 2024 - March 8, 2024 the securities can be purchased at the State Treasury units, and between February 12, 2024 - March 7, 2024 in urban areas and February 12, 2024 - March 6, 2024 in rural areas, through the postal sub-units of the Romanian National Postal Company.
According to an MF press release, the interest is annual, payable at the terms set out in the issue prospectus. Also, government securities issued under the Tezaur Programme are transferable and can be redeemed in advance. An investor may make one or more subscriptions in an issue. Investors may cancel subscriptions already made only during the subscription period by submitting a request.
Individuals who have reached the age of 18 at the time of subscription are eligible. Income obtained from investing in government securities issued by the Ministry of Finance is not taxable.
The funds obtained by the Ministry of Finance as issuer, as a result of the issue of government securities, will be used to finance the budget deficit and refinance the public debt.
The issue prospectus and any amendments thereto are published in the Public Debt section, www.posta-romana.ro.