State borrowing plan at €9 bln in 2024

Economy
Thu, 23 Nov 2023 8:48 GMT
Greek state borrowing will reach 9 billion euros in 2024, of which €4 billion is in net borrowing and €5.4 billion in bond repayment, according to the 2024 state budget.
State borrowing plan at €9 bln in 2024

Greek state borrowing will reach 9 billion euros in 2024, of which €4 billion is in net borrowing and €5.4 billion in bond repayment, according to the 2024 state budget.

The Greek state raised around €11.25 billion from capital markets through auctions and syndicated bond issues in 2023, while the state’s short-term borrowing – including the outstanding amount of treasury bills and repos – totaled €61.8 billion, from €24.8 billion in 2015 (€11.753 billion in treasury bills and €48.296 billion in repos).

The 2024 borrowing strategy is expected to be limited, focusing on ensuring liquidity in the bond market combined with exploiting any opportunities offered by the country’s participation in the Pandemic Emergency Purchase Program (PEPP).

The borrowing program will also include issuance of state bonds focusing on green and sustainable growth, seeking to expand the investments base and improving the country’s image in international markets.

Greece has already begun legal procedures with eurozone member-states for a further early repayment of loans worth €5.29 billion maturing in 2024 and 2025.

kathimerini

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