Bloomberg News

Portugal Estimates 2012 Net Borrowing Needs at EU17.4 Billion

December 30, 2011

Dec. 29 (Bloomberg) -- Portugal’s central government needs to borrow about 17.4 billion euros ($22.5 billion) in 2012, the country’s Treasury and Debt Agency said.

Portugal will continue its strategy of issuing three-month and six-month treasury bills most of the year, except in March, when it will issue fourth-month bills, the agency said today in an e-mailed statement.

Besides short-term financing, Portugal will obtain funds from the European Union and International Monetary Fund’s 78 billion-euro bailout, the agency said.

--Editor: Jim Silver

To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at Acullen8@bloomberg.net


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