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Government Debt Management Centre plans total net issue of HUF 643bn

Telco

One of the main aims of the 2012 issue plans of the Government Debt Management Centre (AKK) is to achieve full-scale market financing, AKK said on Thursday.

Next year’s net financing requirement is expected at HUF 674bn, against which AKK plans net market issue of HUF 643bn.

AKK plans to issue HUF 613bn, or 95%, of the net issue on the forint market.

The government plans no net foreign-currency issues in 2012; the planned €4bn in market-based foreign-currency issue and the projected €800m project financing borrowing will be used to refinance the HUF 4.8bn in expiring foreign currency maturities.

Total gross issue is expected to decline 7% from 2011 to around HUF 4,589bn, with forint issues making up 69% and foreign-currency issues 31%.

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