Central government net financing and financing requirement in 2011 and 2012
22-08-2011On Wednesday, August 24, Budget Outlook 2 and Economic Survey, August 2011 will be available at www.fm.dk.
The estimates of the central government net financing and financing requirement in 2011 and 2012 are based on the budget bill for 2012 and are presented in table 1 below.
The central government financing requirement is expected to be DKK 159bn in 2011 and DKK 213bn in 2012. Estimates for 2012 are included for the first time.
The government’s proposed fiscal measures (“Holdbar vækst”) that were presented earlier today are not included in the budget bill for 2012 and thus not in the central government financing requirement shown in table 1. The proposal is estimated to increase the central government financing requirement by up to DKK 1 bn. in 2011 and DKK 3 bn. in 2012.
The financing requirement is met through borrowing or by drawing on the central government account.
The financing strategy is announced by Danmarks Nationalbank on the website of the government debt management office, www.governmentdebt.dk
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Net financing requirement and central-government financing requirement
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DKK bn.
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2011
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2012
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Net financing requirement
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38
|
76
|
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Repayment of long term debt etc. 1)
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91
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92
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Repayment of short term debt 2)
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30
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45
|
| |
|
|
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Financing requirement
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159
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213
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- domestic financing requirement
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122
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177
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- foreign financing requirement
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37
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36
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1) Incl. payments from the central government in currency and interest swaps and net bond purchase of state owned funds.
2) Incl. the outstanding amount of Treasury bills and commercial papers in the beginning of the year.
Source: Budget Outlook 2 , August 2011.
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