PARIS – The French authorities will elevate its bond issuance subsequent yr as redemptions rise and it attracts much less on funds from the Treasury’s account to cowl its financing wants, the Agence France Tresor (AFT) public debt administration company stated on Monday.
The Agence France Tresor stated it deliberate to subject 270.0 billion euros ($261.5 billion) of medium and long-term bonds subsequent yr, web of buybacks, up from 260 billion this yr.
The AFT stated it was elevating issuance subsequent yr although the financing requirement was largely secure at 305.5 billion euros as a result of it deliberate to attract much less from the Treasury account than final yr.
Presenting its 2023 funds, the Finance Ministry stated on Monday that the state funds deficit was anticipated to fall to 158.5 billion euros from 172.6 billion this yr.
In the meantime, the quantity of bonds maturing subsequent yr and needing to be redeemed would rise to 151.6 billion after 140.8 billion this yr, AFT stated.
Along with issuing bonds, AFT stated the financing requirement could be coated by drawing 18 billion euros from the Treasury’s account, rising the quantity of Treasury payments excellent by 10.4 billion euros, accessing 6.6 billion euros from a particular fund earmarked for amortising debt linked to the COVID disaster and tapping different money sources value 500 million euros.
($1 = 1.0326 euros)
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