We consider that the decrease in the financing costs of budgetary deficit and of the debt refinancing in the next
5 years perspective, as it would result from the Romaniangovernment public debt service projection elaborated by
MPF (2013b), according to which this one (expressed in euro) would be reduced by the end of 2018 to only 1/3 as
compared to the level of 2013, is not founded in our opinion, neither on assumptions of this very optimistic scenario
nor on reliable economic argumentation of the trend change having been defined. Actually, the average maturity of
the outstanding debt stock by the end of 2012, of about 5 years, is to expire just around the year 2018, without taking
into consideration the refinancing needs in the meantime