Central government financing requirements for 2025 and 2026

The Economic Survey, August 2025, will be published on August 29. Some of the key figures in The Economic Survey contain market sensitive information. These figures are published ahead of The Economic Survey.

Copenhagen from above

The estimates of the central government net and gross financing requirements for 2025 and 2026 can be found in table 1 below. The gross financing requirement for 2025 has been revised to DKK 132 billion in 2025 and DKK 142 billion in 2026. The gross financing requirement is the sum of the net financing requirement, repayment of government debt, transactions in state funds, and purchases of various bonds for special purposes. The net financing requirement for 2025 takes into account the state’s expected participation with DKK 30 billion as part of the capital injection announced by Ørsted on August 11, 2025.

The gross financing requirement is met by debt issuance or by drawing on the central government’s account at Danmarks Nationalbank. The financing strategy is published by Danmarks Nationalbank on the website of the government debt management office.

The financing strategy is published by Danmarks Nationalbank on the website of the government debt management office

Table 1. Central government net and gross financing requirements
  2025
 2026
DKK billion 1)  May 2025 August 2025 August 2025
Net financing requirement -8 4 37
Repayment of long term deb 2) 88 95 40
Repayment of short term debt 3) 8 8 25
Net purchase of state owned funds -0 -0 -0
Net purchase of bonds for special purposes 4) 25 25 41
Gross financing requirement 113 132 142

1)    Rounding may cause component sums to deviate from totals.

2)    Incl. payments from the central government in cross-currency swaps and buybacks of long-term debt with maturity date beyond the current year.

3)    Repayment of short-term debt corresponds to the outstanding amount of Treasury bills and commercial paper in the beginning of the year.

4)    Net purchases of bonds for special purposes includes public housing bonds, bonds for financing of private nursing homes and KommuneKredit bonds. 

Source: The Economic Survey, May 2025 and The Economic Survey, August 2025.