Spain cuts 2019 net debt issuance target by 5bn eur to 30bn eur

MADRID: Spain's Treasury said on Wednesday it had cut its net debt issuance target for 2019, to 30 billion euros ($33.6 billion), the lowest annual issuance target since 2007, from an original target of 35 billion euros.

The reduction is due to lower interest rates, which is at record lows in the euro zone, higher-than-expected tax revenues, increased budgetary efficiency and the return of some regions to self financing, the Treasury said.