Poland’s FinMin confirms gross borrowing coverage rose to 38%

Poland’s Finance Ministry confirmed that gross borrowing coverage rose to 38% after the Thurs. bond auction from 34% at end-2018, according to a statement. The ministry sold PLN 6bn of bonds in a main auction and then offloaded another PLN 341.7mn at a supplemental auction. Total borrowing after the Thurs. auction is some PLN 62bn compared to a preliminary gross borrowing target of PLN 163.7bn (the 2019 budget has not yet been passed to confirm the target). For comparison, the ministry covered some 32% of its target at the same point in 2018.

 

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