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Hungary plans to cut debt sales by 8.5% next year to finance government spending and pay off maturing debt, the State Debt Management Agency said today.
Gross bond sales will by Ft 7.7 trillion, László András Borbély, deputy director of the agency said today at a Budapest press conference.
Net forint-denominated bond sales, the amount needed to finance spending, will total Ft 1.16 trillion, compared with Ft 1.08 trillion this year. Next year's debt issue will include Ft 660 billion worth of foreign currency denominated bonds. Net foreign currency bond sales will total Ft 629 billion.