Belgium plans to raise less debt in 2016

BRUSSELS: Belgium plans to sell fewer medium- and long-term bonds in 2016, the debt agency said on Tuesday, as it has less debt to mature and a lower government deficit.

Belgium said it had overall borrowing requirements of 38.9 billion euros ($42.0 billion), down from the 40.1 billion for 2015 and it would finance 33.5 billion through the sale of so-called OLOs, medium- and long-term bonds.

Aided by a string of new bonds sold by banking syndicates, Belgium raised 35.64 billion euros of OLO bonds in 2015, beyond its initial 32.5 billion-euro target for the year.

Belgium, rated double-A, has raised funds at record lows in 2015 helped by an overall decline in sovereign yields in the euro zone.