10 June 2020: Modification of the State financing programme as part of the presentation of the third revised Draft Budget Bill for 2020

Today, the Council of Ministers adopted the third revised Draft Budget Bill for 2020.

The measures deployed by the Government to mitigate the economic impact of the health crisis lead to an increase in the State deficit to be financed in 2020 to €222.1bn, compared to €185.5bn projected in the second Revised Budget Act (“LFR 2”) promulgated on 25 April 2020. The financing requirement for 2020 is thus revised upwards to €361.2bn, an increase of €36.6bn compared to LFR 2.

In this context, Bruno Le Maire, Minister for the Economy and Finance, adopted the details of the revised financing programme for 2020.

Medium-and long-term issuances net of buybacks will stand at €260bn (+€15bn compared to LFR 2). The net change in the BTF outstanding will amount to €79.9bn (+€15.8bn compared to LFR 2).

The implementing conditions of the 2020 financing programme remain consistent with those announced on 18 May.

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