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The 2007 French draft budget bill has been adopted this morning by the Government. Agence France Trésor indicates that the net issuance of medium-and long-term securities (OAT, BTAN) will amount to €106.5 billion in 2007. The total financing requirement for the State will amount to €114.5 billion, out of which €41.6 billion result from the projected deficit for 2007 and €72.9 billion result from the redemption of the medium- and long-term debt falling due in 2007.
The details of the funding programme will be presented in December 2006. The amount of issuance for 2007 may then be revised, depending in particular on possible debt buybacks by end-2006.
Funding programme of the State for 2007
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