Spain reduces public debt issues by 5,000 million this year

0

The First Vice President and Minister of Economic Affairs and Digital Transformation, Nadia Calviño, announced this Thursday the decision to reduce the planned issuance of public debt for 2022 by 5,000 million euros, with which the net issuance of debt this year by the Treasury will be approximately about 70,000 million euros.

Speaking to the media after meeting with the European Commissioner for Financial Stability, Financial Services and the Capital Markets Union, Mairead McGuinness, the first vice president has advanced that she is going to reduce in these 5,000 million of euros the financing needs of Spain for this year, thanks to the “prudence” of the government estimates and to the favorable evolution of tax collection.

In this way, the financing finally issued by the Treasury will be 70,000 million euros, instead of the 75,000 million originally planned. As reported by the first vice president, more than 96% of the issuance calendar of the Treasury financing program for 2022 has already been executed. This reduction in financing needs will entail an adjustment in the scheduled issuance calendar, with the abolition of the last scheduled debt auction for this year. “This is very good news that demonstrates the confidence of the financial markets and international investors in the Spanish economy and in our economic policy”, stressed the Minister for Economic Affairs.

According to Calviño, the indicators -in terms of risk premium and interest rate-, as well as the high participation of foreign investors in Spanish issues confirm “week after week that investor confidence, which It is so important” in a turbulent international context. All this, in an environment of normalization of monetary policy by the European Central Bank, which is no longer making positive net repurchases of Spanish debt.

The vice president has taken advantage of her appearance to highlight the approval of the 2023 General State Budget, for which Congress is expected to give the ‘green light’ this afternoon with “broad” support in parliament. According to the minister, this is a “fundamental” milestone in order to continue deploying the next year the reforms and investments linked to the European funds ‘Next Generation EU’ and meet the objectives of fiscal responsibility. “These Budgets are marked by prudence and fiscal responsibility. Last year, Spain met its targets for reducing deficit and debt to GDP ratio and this year we will meet them again”, has assured the economic manager of the Government.

Source: lainformacion.com

*The article has been translated based on the content of lainformacion.com. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!

For all the latest news click here

Denial of responsibility! HOS is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – at amritpaljha@gmail.com The content will be deleted within 24 hours.

Leave A Reply

Your email address will not be published.