The Ministry of Finance presents today a proposition to Stortinget (the Parliament) concerning authorisations for central government borrowing in 2005.

The government’s gross financing requirement for 2005 is NOK 16 billion. The financing requirement is planned to be covered by borrowing in the domestic market.

Experience has shown the need for flexibility in the government's borrowing program in order to adapt to changes during the year. The Ministry of Finance therefore asks for authorisation to raise loans that exceed gross financing requirement. The Ministry proposes authorisation to raise new long-term domestic loans of NOK 50 billion. Authorisations for maximum outstanding short-term market instruments (T-bills etc.) and other short-term debt instruments are proposed at NOK 120 billion and NOK 100 billion, respectively.

In December 2004, the Ministry of Finance and Norges Bank will publish an auction calendar for the issuance of government bonds and treasury bills in 2005.

The Government's proposition is available in Norwegian here.