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Ministry of Economy and FinanceSTATE SECTOR BORROWING REQUIREMENT FOR THE MONTH OF OCTOBER

Press Release N° 162 of 11/02/2009

A state sector borrowing requirement of approximately 10,800 million was recorded on a provisional basis in October 2009, 2,200 million lower than the figure of 12,988 for October 2008.

In the first ten months of 2009, a total requirement of around 83,400 million was recorded, around 30,700 million higher than the figure of 52,685 million for the same period in 2008.

COMMENT

Compared to the same month in 2008, the state sector borrowing requirement for the month of October 2009 reflected lower interest payment liabilities as a result of a substantial number of interest bearing postal bonds maturing during the month, as well as reflecting a lower level of out payments, despite the date for some having been postponed from September.

These favourable aspects were partially set off by, in the main, greater payments in farming subsidies as required by EU funds.

Rome 11/02/2009

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