Tue, Dec 24, 2013 - Page 14 News List

Government set to raise NT$215bn in Treasury bond sale

By Kevin Chen  /  Staff reporter

The government is set to raise NT$215 billion (US$7.16 billion) by selling Treasury bonds in the first quarter of next year. The sale is set to finance government debt and fund infrastructure construction, the Ministry of Finance said in a statement yesterday.

The planned sale is aimed at raising 126.32 percent more than the NT$95 billion generated by a sale of bonds this quarter, but 8.51 percent lower than the NT$235 billion sold in the same period last year, ministry data showed.

The government’s debt in the first quarter includes NT$120 billion for debt repayment and NT$95 billion for special budgets and public works.

The ministry did not specify the total value of bonds to be issued next year.

To overcome a fiscal shortfall of NT$214.4 billion, the government has sold NT$625 billion in Treasury bonds this year. By comparison, a record NT$665 billion of bonds were sold last year and NT$620 billion in 2011.

The deficit figure is expected to drop to NT$209.9 billion next year, according to the government’s annual budget for next year, which was released by the Directorate-General of Budget Accounting and Statistics in August.

Meanwhile, the ministry said it was also set to sell shorter-maturity Treasury bills to help state coffers meet short-term capital requirement needs and to repay debt.

In the first quarter next year, the ministry plans to sell NT$105 billion in Treasury bills, the statement said.

This story has been viewed 983 times.

Comments will be moderated. Remarks containing abusive and obscene language, personal attacks of any kind or promotion will be removed and the user banned.

TOP top