Germany to borrow 2 billion euros less this year than planned

GERMANY will borrow two billion euros (S$2.9 billion) less from investors this year than previously planned, with a total issuance of about 438 billion euros in securities, the debt agency said on Wednesday (Sep 18).

The planned volume is the lowest level since 2020, but still twice as high as in the years preceding the coronavirus pandemic and energy crisis.

Planned increases of Treasury bonds with a remaining term of 11 months on Oct 21 and Nov 11 will be reduced by one billion euros each which means overall, Germany will raise two billion euros less on the money market than it announced in Dec 2023.

The debt agency also said it was cancelling the issue of a green federal security due on Nov 5. However, the overall planned volume of green federal securities of 17 billion euros to 19 billion euros issues planned for the full year will still be achieved with an issuance on Oct 8, it said. REUTERS