State Treasury reports increase in debt in November and y/y

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The State Treasury debt in November 2016 grew by PLN 12.6 billion (1.4 percent), to PLN 923.3 billion, said Ministry of Finance ministry in a statement on Friday. Since the beginning of 2016, debt had risen by (10.6 percent), it said.

MF said that the increase in debt in November was mainly the result of deficit financing of the state budget (PLN 2.9 million) and the European funds budget (PLN 6.2 billion). It indicated that the same increases for the entire year of 2016 were mainly due to financing the state budget deficit (PLN 27.6 million) and the budget deficit from European funds (PLN 14.7 billion), as well as an increase in funds for the budget accounts (PLN 30.4 million), associated with the accumulation of resources to finance the borrowing needs. The weakening of the Polish currency, by 4.5 percent, against the US dollar, also played a factor in the increased debt, the Ministry said.

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