Finance Minister: Preparing the executive and technical bases for issuing treasury bonds
Economy today:
Finance Minister Mamoun Hamdan revealed the preparation of the executive and technical foundations for the issuance of treasury bonds, and government agencies will be asked to submit their proposals on investment projects of economic feasibility that need financing.
Hamdan's words came after the weekly session of the "Council of Ministers" yesterday, Sunday, as the council decided to finance government investment and development projects by offering public treasury bonds and bonds at a specific interest, according to a press release issued by it.
At the end of September 2019, Prime Minister Emad Khamis decided to finance the state's investment projects, vital, economic and service by offering public treasury bonds and bills for public subscription during 2019, with a maturity of one year or less.
The government made clear then that issuing treasury bills is a necessity to finance part of the financial needs gap and its investment plan for the remainder of 2019, and to direct it in the future towards investment projects with good economic returns.
Legislative Decree No. 60 of 2007 (on government securities) authorized the Ministry of Finance to borrow, with the aim of financing national priority projects included in the country's general plans.
Treasury bills are a government debt instrument issued with a duration of 3 months to a year, and are considered short-term securities and low risk, and governments usually resort to them to finance their emergency needs such as filling their budget deficits, in exchange for interest obtained by the creditor.
In 2010, the intention was announced for the first time to issue government permits, with the aim of financing infrastructure projects, for a period of 3 and 6 months with a total value of two billion Syrian pounds, to be followed by the issuance of 3 bonds with a value of one billion each.
