The National Treasury Management Agency said today that it has cancelled the Treasury Bill auction scheduled for Thursday August 18.
The NTMA said this was due to the country's strong fiscal position as reflected in yesterday's Exchequer returns.
The public finances recorded a surplus of €5 billion at the end of July, according to figures from the Department of Finance yesterday.
This compares to a deficit of €5.7 billion at the end of July last year.
Higher tax returns and lower levels of COVID-related spending account for the state finances' ongoing turnaround.
The Treasury Bill auction set for Thursday, September 15 will go ahead, according to the NTMA.
On Monday, September 12, specifics about this auction will be released, it was noted.
Out of a budgeted range of €10–14 billion, the NTMA has issued money totaling €5.75 billion so far this year.
This is less than the €18.5 billion that was raised in 2021 since the government anticipates spending far less to combat the Covid-19 outbreak.
Due to the solid fiscal performance of the economy thus far this year and the lower Exchequer borrowing, the NTMA also decided to cancel its scheduled bond sale for June.
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