Authorisations to borrow in 2007

No.: 78/2006
Date: 10.11.06
Contacts: Hans Christian Tronstad, phone + 47 22 24 41 72 / cell phone + 47 90 63 50 27, Frank Vatne + 47 22 24 41 31 / cell phone +47 91 33 57 02

The Ministry of Finance presents today a proposition to the Storting (Parliament) concerning authorisations for central government borrowing in 2007.

The government’s gross financing requirement for 2006 is NOK 65.6 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. Authorisations for maximum outstanding short-term market instruments (Treasury bills) and other short-term debt are proposed at NOK 80 billion and NOK 100 billion, respectively.