Business News

Borrowing Cap Set at EUR 7.7bn for 2014

Ljubljana, 09 January (STA) - The government will be able to borrow up to EUR 7.7bn this year according to a budget financing plan adopted on Thursday.

It can take on fresh debt of up to EUR 3.5bn to finance expenditure this year and up to EUR 4.2bn to pre-finance debt principal payments in 2015 and 2016.

The plan determines that the issue of long-term bonds would be the prime borrowing method, but the government can also resort to T-bills and other short-term instruments.

It is unclear when Slovenia will next borrow on international markets. Its last debt issue was in mid-November, a private placement worth EUR 1.5bn with a 4.7% interest rate.

Finance Minister Uroš Čufer indicated in December that Slovenia was in no hurry to borrow, as the government still had about EUR 2.5bn left on its accounts from the 2013 debt issues.

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