Plan for $7.3 billion in treasury bonds at one percent. Deficit-to-GDP projected at 8.3 percent in 2019 draft budget

The Ministry of Finance plans to issue nearly LL11,000 billion ($7.3 billion) in treasury bonds denominated in lira at an interest rate of one percent.

The issue will be carried out in coordination with the Central Bank (BDL) and the commercial banks after the ratification of the budget, according to Minister of Finance Ali Hassan Khalil. This will help reduce 2019's debt servicing costs by LL1,000 billion ($663 million), he said.

Khalil said that the projected fiscal deficit in th...

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