MINISTRY OF FINACE PLACED GOVERNMENT SECURITIES TO THE VALUE OF 1.23 BILLION BGN

The Bulgarian Ministry of Finance placed 5-month government securities to the total nominal value of BGN. on Monday, June 30th. The banks acquired nearly 90% of the issue and the remainder was acquired by pension funds, insurance companies and guarantee funds.

The funds raised by this issue are added to the budget buffers in order to provide unconditional support to the banking system and help it react to the speculative attacks against several Bulgarian banks. The Ministry of Finance emphasized that the undertaken immediate and well-coordinated actions by the government, the Bulgarian National Bank and the financial community in the country led to the categorical rebuff of the groundless speculations in the sector and restored the public confidence in the banking system.

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