Funding and cash management

Through borrowing, the government seeks to pay off outstanding government debts and to cover any possible deficit. The aim of borrowing is to meet state financing needs cost effectively and in a manner that enables access to financing under all circumstances. At the same time, it is ensured that the burden on government finances caused by outstanding government debts and the related interest is distributed evenly and in a foreseeable manner. When carrying out funding operations, the related risks are kept well under control and at a low level.

Central government budget economy's borrowing requirement for 2017

Instrument

Withdrawal
(EUR million)

Treasury bills 5 749
Government bonds 14 500
Yield bonds 0
Others 2 500
Total borrowing requirement 22 749
Amortisations 17 113
Net 5 636

Based on the latest State budget or supplementary budget or the proposal of the Ministry of Finance.

Central government net borrowing

Budget 2017
(EUR million)
Net borrowing,
nominal amount
5 636
Debt management expenses
Issue losses (net) -40
Capital losses (net) -10
Net borrowing (incl. debt management expenses) 5 586

Government borrowing is mainly denominated in euros. When borrowing in other currencies, the State Treasury always hedges against currency risk. Following these hedging measures, the entire government debt is in euros.

Published 2013-03-25 at  17:39 , updated 2017-02-03 at  10:55
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