Debt office set to end year at lower end of its fundraising target for the year
National Treasury Management Agency chief executive Frank O’Connor. Photograph Nick Bradshaw for The Irish TimesThe National Treasury Management Agency will hold only one more bond auction in 2023, suggesting that it will finish off at the lower end of its fundraising target range, as the Government’s projected budget surplus has improved since late last year.
The agency has raised €6 billion in long-term debt so far this year, out of range of between €7 billion and €11 billion that it announced last December. The NTMA, led by chief executive Frank O’Connor, said on Monday that it plans to hold its last bond auction of 2023 on September 11th. It typically raises between €1 billion and €1.5 billion in such auctions.
The announcement comes amid a strong outlook for the Government’s financial position ahead of the publication this week of its Summer Economic Statement, which outlines the intended size of the tax and spending package for Budget 2024.
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