Central government financing requirement
Updated estimates of the central government net financing and financing requirement are presented in table 1 below.
The financing requirement for 2019 has increased by 36 bn. kr. to 180 bn. kr. due to larger repayments of long-term debt and greater net purchase of social housing mortgage bonds. The Ministry of Finance expects a financing requirement of 65 bn. kr. for 2020.
The target for government bond sales in 2019 is 75 bn. kr. The target for short-term treasury bills is 30 bn. kr.
The government account at Danmarks Nationalbank covers any additional financing requirement.
The financing strategy is managed by Danmarks Nationalbank and can be found on the website of the government debt management office.
|Table 1. Net financing requirement and central-government financing requirement|
|DKK bn. 1)
|Net financing requirement
|Repayment of long term debt 2)
|Repayment of short term debt 3)
|Net purchase of state owned funds
|Net purchase of social mortgage bonds
1) Rounding may cause component sums to deviate from totals.
2) Incl. payments from the central government in cross-currency swaps.
3) Repayment of short-term debt corresponds to the outstanding amount of Treasury bills and commercial paper in the beginning of the year.
Source: Economic Survey, August 2019.