Cabinet approves issue of 148 billion in sate bonds

20-10-2010

The government on Wednesday also approved the issuing of state bonds in the amount of 148.2 billion crowns for most of last year’s state budget deficit. The Ministry of Finance hopes that the proposal is passed in its first reading in Parliament. The bonds cover the remainder of the amount approved by Parliament earlier this year, with 37.7 billion in bonds already having been approved. The state’s economic result in 2009 ended with a deficit of 192.4 billion crowns, while the original budget anticipated a deficit of 38.1 billion.