June 21, 2019 / 8:09 AM / 3 months ago

Germany cuts third quarter debt issuance plans by two billion euros

BERLIN (Reuters) - Germany’s debt agency on Friday cut its debt issue plans for the third quarter by 2 billion euros (£1.8 billion), saying that the federal government’s financing requirements had declined since the start of the year.

The debt agency said it would now issue 197 billion euros of debt in 2019, down from the 199 billion euros it had planned in December.

The debt agency said it now planned to issue 41.5 billion euros in capital market instruments during the July-September period and 11 billion euros’ worth of money market instruments.

That comes despite the Finance Ministry in May slashing its estimate of 2019 tax intake because of weaker growth.

Reporting by Michelle Martin, editing by Thomas Escritt

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