Federal Government

2019 Financing plan

EUR billion 2019 Financing plan (1) Achieved as of 31.05.2019

I. Gross financing requirements 2019

 

30.11

 

17.64

Federal State budget deficit (2)   5.35   7.66
- Budget deficit (stricto sensu) 5.43   7.74  
- Participation in/loans to financial institutions and sovereigns -0.08   -0.08  
Debt maturing in 2019   23.35   9.98
- Long and medium term debt in euro (3) 23.35   9.98  
- Long and medium term in foreign currencies 0.00   0.00  
Planned pre-funding (bonds maturing in 2020 and later) (4)   1.16   0.00
- Buy backs 1.16   0.00  
Other financing requirements (5)   0.25   0.00
         

II. Funding resources 2019 (long and medium term)

 

30.25

 

18.36

OLOs 28.00   18.30  
Euro Medium Term Notes/Schuldscheine 2.00   0.05  
Securities for retail investors 0.25   0.00  
Other (6) 0.00   0.00  
         

 III. Net change in short-term foreign currency debt

 

0.00

 

0.01

         

 IV. Change in Treasury Certificates stock (7)

 

0.00

 

-0.27

         

 V. Net change in other short-term debt and financial assets (8)

 

-0.14

 

-0.45

(1) Forecast as of December 5th, 2018.
(2) The Federal State budget deficit is seasonal : e.g. tax revenues are notably higher in the second half of the year than in the first half.
(3) Including the OLOs and State notes maturing in 2019, bought back and held in portfolio.
(4) Including the OLOs and State notes maturing in 2020 or later, bought back and held in portfolio. As of January 1st, 2019, outstanding stock of medium and long term debt in euro maturing in 2020 totalled 20.81 billion euro.
(5) Including put/call options exercised on bonds and net redemptions of the Treasury bonds representing Belgian participation in international organisations.
(6) Including net issues of Treasury bonds representing Belgian participation in international organisations.
(7) Outstanding stock of Treasury Certificates on 01/01/2019 : 24.87 billion euro.
(8) This section includes residual financing instruments complementing the reference instruments mentioned in the previous section, including collateral margin changes. A positive figure represents an increase in the stock of residual financing and/or a reduction in financial assets.
(9) Figures may not sum up to the total because of rounding.

2018 Financing plan

EUR billion 2018 Financing plan Achieved as of 31.12.2018

I. Gross financing requirements 2018

 

33.25

 

33.64

Federal State budget deficit (1)   4.54   3.97
- Budget deficit (stricto sensu) 4.54   3.97  
- Participation in/loans to financial institutions and sovereigns 0.00   0.00  
Debt maturing in 2018   25.05   25.15
- Long and medium term debt in euro (2) 25.05   25.15  
- Long and medium term in foreign currencies 0.00   0.00  
Planned pre-funding (bonds maturing in 2019 and later) (3)   3.11   4.47
- Buy backs 3.11   4.47  
Other financing requirements (4)   0.55   0.05
         

II. Funding resources 2018 (long and medium term)

 

34.25

 

34.14

- OLOs 31.00   33.94  
- Euro Medium Term Notes/Schuldscheine 3.00   0.19  
- Securities for retail investors 0.25   0.01  
- Other (5) 0.00   0.00  
         

 III. Net change in short-term foreign currency debt

 

0.00

 

-0.04

         

 IV. Change in Treasury Certificates stock (6)

 

0.00

 

-0.74

         

 V. Net change in other short-term debt and financial assets (7)

 

-1.00

 

0.28

(1) The Federal State budget deficit is seasonal : e.g. tax revenues are notably higher in the second half of the year than in the first half.
(2) Including the OLOs and State notes maturing in 2018, bought back and held in portfolio.
(3) Including the OLOs and State notes maturing in 2019 or later, bought back and held in portfolio. As of January 1st, 2018, outstanding stock of medium and long term debt in euro maturing in 2019 totalled 27.92 billion euro.
(4) Including put/call options exercised on bonds and net redemptions of the Treasury bonds representing Belgian participation in international organisations.
(5) Including net issues of Treasury bonds representing Belgian participation in international organisations.
(6) Outstanding stock of Treasury Certificates on 01/01/2018 : 25.60 billion euro.
(7) This section includes residual financing instruments complementing the reference instruments mentioned in the previous section, including collateral margin changes. A positive figure represents an increase in the stock of residual financing and/or a reduction in financial assets.
(8) Figures may not sum up to the total because of rounding.

Realization of the financing plan

  OLOs State Notes Other (*) TOTAL
31/01/2018 6 000.0 0.0 0.0 6 000.0
28/02/2018 5 000.0 0.0 0.0 5 000.0
31/03/2018 3 983.0 4.0 0.0 3 983.0
30/04/2018 3 095.0 0.0 52.0 3 147.0
31/05/2018 0.0 0.0 0.0 0.0
30/06/2018 0.0 0.0 0.0 0.0
31/07/2018 0.0 0.0 0.0 0.0
31/08/2018 0.0 0.0 0.0 0.0
30/09/2018 0.0 0.0 0.0 0.0
31/10/2018 0.0 0.0 0.0 0.0
30/11/2018 0.0 0.0 0.0 0.0
31/12/2018 0.0 0.0 0.0 0.0
Realis. > 03.05.2019 17 986.0 4.0 52.0 18 134.0
Plan 2019 (**) 28 000.0 250.0 2 000.0 30 250.0

(*) Issues in foreign currencies and/or structured products
(**) Forecast for 2019