Germany Slashes Debt Sales by €31 Billion in Fourth Quarter
- Government is winding down aid to offset soaring energy costs
- Total issuance for 2023 still at record of around €500 billion
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Germany slashed the volume of federal debt sales planned for the fourth quarter by €31 billion ($33 billion) as the government winds down financial support for households and companies hit by soaring energy costs.
Bond issuance will be cut by €8 billion and sales of bills by €23 billion compared with a plan published last December, the federal finance agency said Tuesday in an emailed statement. Together with the reduction in the third quarter, that would trim total sales for this year by €45 billion to about €500 billion, still a record.