Government borrows early to take advantage of market conditions - Finance Ministry

The government this year borrowed nearly all the amount it had to fork out in stocks in the first eight months of the year to take advantage of the current market advantageous rates and conditions, the Finance Ministry said. Referring to a statement...

The government this year borrowed nearly all the amount it had to fork out in stocks in the first eight months of the year to take advantage of the current market advantageous rates and conditions, the Finance Ministry said.

Referring to a statement issued yesterday by the Opposition, the ministry said the PL’s statement showed that it could not understand how a government administered public funds.

In its statement yesterday, the PL said the government had borrowed €100 million more than it had targeted to borrow this year up to the end of July.

The ministry said the opposition should know that the country got most of its income, particularly that from income tax, at the end of the year, when there would be less need for the government to borrow.

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