Finland Times

 

Kokoomus lawmaker Ben Zyskowicz published the proposals for Central government saving for this year in Helsinki on Monday. Photo – Lehtikuva.

The central government’s net borrowing this year will amount to 4.7 billion euros, said the State Treasury in its review report on Monday.

 

The treasury published its annual review on central government debt management which also revealed that the realised net borrowing in 2014 amounted to 5.4 billion euros, while the on budget gross borrowing totalled 16.3 billion euros.

 

According to the overview, the financing programme for this year is similar to last year with estimated gross borrowing amounting 16.3 billion euros.

 

The objective of the borrowing is to repay the maturing debt and also to cover the state's budget deficit.

 

“The mission of the State Treasury is to secure the liquidity and funding for the central government. The Republic of Finland will continue the funding strategy of issuing two new euro-denominated benchmark bonds in 2015,” said Director of Finance Teppo Koivisto in an official press release of the State Treasury.