Lower borrowing requirements in the updated 2024 funding plan

The Belgian Debt Agency announces that it expects its 2024 gross borrowing requirements to decrease by EUR 2.21 billion, to EUR 50.71 billion (cf. table attached).

The decrease is mainly due to net borrowing, which is now expected to amount to EUR 19.38 billion.

Accordingly, planned long-term funding decreases as well, to EUR 43.33 billion, with the amount of OLO issuance being stable at EUR 41.00 billion.

The Debt Agency now expects the outstanding amount of Treasury Certificates to increase by EUR 12.00 billion. By contrast, the outstanding amount of 1-yr State Notes (Belgium’s retail bond product) would decline by EUR 16.61 billion, implying a total issuance of EUR 5.28 billion of this product in the course of 2024.