Denmark on Sunday lowered its forecast for its central government gross financing need in 2011 to 149 billion Danish crowns ($28.63 billion) from a previous estimate of 153 billion crowns. The gross financing requirement corresponds to the net financing need plus repayment of short- and long-term debt.
The estimate for this year is down from a gross financing requirement of 206 billion crowns in 2010. The domestic financing requirement is projected to be 112 billion crowns and the foreign financing need 37 billion crowns this year, the Finance Ministry said in a statement.
The domestic financing need largely reflects the amount to be raised by issuing Danish crown-denominated debt. The 2011 net financing requirement, excluding repayment of short- and long-term debt, was estimated at 45 billion crowns, down from a forecast of 49 billion given in December.
Comments
Comments are closed for this article.