Reduce public debt to 137.6% of GDP in 2006 from 145.4% in 2025 and early debt repayment using cash, so that the transnational loans of the first Memorandum are paid before 2031, provides for the draft budget 2026.

Given the high cash cash on the Greek State as well as its relatively limited financial needs for the year 2026 as a result of the aforementioned preparations, the loan strategy for the following year, according to the draft budget, is expected to be limited again.

Specifically, the targeting of the loan strategy consists of ensuring the continued publishing presence of the Greek State in international capital markets, further granting high -liquidity versions by maintaining as far as possible their extensive physical maturity, reducing the Greek State as well as possible. Eurozone.

Early repayment of debt

In particular, for the policy of early debt repayment in the draft, it is stated that it will continue using the cash and in particular the loans from the official sector, namely bilateral loans with the eurozone countries. The main objective is to repay these bilateral loans a decade earlier than their final expiry date, that is, at the latest by 2031, so that the general government’s debt is reduced both as an absolute size and as a percentage.

Regarding the Greek State’s gross financial needs for 2025, including the imminent premature repayment of bilateral loans with eurozone countries (GLF) of € 5,290 billion, which relates to the pro Rata in the expiration from 2033 to 2041.

Specifically, the first € 4 billion edition was for a new ten-year expiry bond, while the second concerned a double version totaling € 3 billion with re-opening existing bonds of fifteen years and thirty years, expiration of 2038 and 2054, respectively, respectively, respectively of 2038 and 2054 respectively. 2026 (Dual Trans + Switch and Tender Offer).

With the above versions, in conjunction with the use of part of the cash, almost all of the approved loan program of the year, including the amounts for early public debt repayments, was implemented, while covering the gaps of the reference curve with adequate references with sufficient bonds and references. of the volumes of the secondary market of Greek government securities.

In addition, three bond re -issuance auctions were held at predetermined regular intervals (3rd week each month), which was drawn a total of EUR 700 million.

These auctions are mainly aimed at satisfying investment demand and at the same time the easier operation of the secondary bond market, with further liquidity at selected points in the yield curve, while the announcement of their time planning certifies the Greek State.