The Spanish Treasury expects to reduce as much as 20 billion euros (26 billion U.S. dollars) of its state borrowing in 2013, an official said said Tuesday.
The gross issuance of treasury bonds would be between 215 billion euros (281 billion U.S. dollars) and 230 billion euros, down 7.9 percent and 13.9 percent decrease from the 250 billion euros (327 billion U.S. dollars) auctioned last year, General Secretary of the Treasury and Financial Policy Inigo Fernandez de Mesa said.
De Mesa reiterated that so far no decision had been taken on the issue of whether or not Spain would ask the European Central Bank to buy bonds.
The Spanish treasury will hold auctions on the third Tuesday of each month when it will offer six- and 12-month treasury bonds, while the three- and nine-month treasury bonds will be auctioned on the fourth Tuesday.
