Authorisations to borrow in 2008

The Ministry of Finance presents today a proposition to the Storting (Parliament) concerning authorisations for central government borrowing in 2008.

The government’s gross financing requirement for 2008 is NOK 14.9 billion. The financing requirement is planned to be covered by borrowing in the domestic market, and by drawing on the cash reserves.

There is a need for flexibility in the government's borrowing program in order to adjust to changes during the year. The Ministry proposes authorisation to raise NOK 40 billion in new long-term domestic loans. Maximum outstanding of short-term market instruments (Treasury bills) is proposed at NOK 80 billion.

In December 2007, the Ministry of Finance and Norges Bank will publish an auction calendar for the issuance of government bonds and Treasury bills in 2008.