Estonia: Government to issue 10-year bonds for EUR 1bn

Estonia will issue 10-year bonds for EUR 1bn to cover the state budget deficit in 2024, ERR reports. Sven Kirsipuu, deputy secretary general of the Ministry of Finance, said that the bond issue would cover about half of the state’s borrowing needs in 2024. Preliminary indications suggested that investor interest in Estonian bonds remained strong, he added. Estonia has issued long-term bonds twice since 2020. The new issue will raise the total volume of the bonds to around EUR 4bn. Estonia’s budget deficit was 3% of GDP in 2023, according to revised estimates, Postimees reported.