Gross
financing
require-
ment

Redemp-
tion of
foreign
govern-
ment
loans

Redemp-
tion of
domestic
govern-
ment
loans¹⁾

Net finan-
cing
require-
ment²⁾

Met by

Net sales of central-
government securities
in kroner to¹⁾

Net
foreign
borrowing

Sales
of
ECU
bonds

Reduction
of the
account
with the
National-
bank⁵⁾

Busi-
ness,
house-
holds,
etc.³⁾

The
National-
bank,
the banks,
etc.⁴⁾

Kr.billion

1988

131.4

36.3

86.8

8.3

- 2.2

10.1

- 10.1

_

10.5

1989

130.1

17.8

89.5

22.7

11.6

7.6

- 4.7

_

8.2

1990

119.7

14.7

79.1

25.9

41.2

- 18.5

5.6

_

- 2.4

1991

136.9

30.6

64.5

41.8

36.5

13.3

- 28.4

_

20.4

1992

142.6

16.3

96.0

30.3

46.2

- 17.4

11.1

10.2

- 19.8

1993

135.9

16.7

74.3

44.9

81.2

- 34.7

56.7

_

- 58.3

1994

134.7

14.9

73.6

46.2

- 11.6

57.6

- 31.3

- 1.1

32.7

1995

171.3

32.5

104.5

34.2

58.8

- 26.2

- 19.7

- 0.2

21.5

1996

127.9

33.2

76.7

18.1

40.5

- 21.2

- 3.7

- 1.3

3.8

1997

99.0

25.2

79.0

- 5.2

16.6

- 22.5

0.7

- 0.8

0.9

1996 Jan.

15.0

0.2

3.9

10.8

14.1

- 8.7

1.5

- 0.2

4.1

Feb.

3.2

2.2

21.8

- 20.7

- 5.1

- 5.2

- 1.9

- 0.1

- 8.5

March

10.3

5.0

_

5.3

16.6

4.2

- 3.6

- 0.1

- 11.8

April

21.7

0.3

_

21.4

9.0

- 5.6

0.4

- 0.1

17.7

May

- 15.8

1.2

_

- 17.0

0.4

4.5

- 0.5

- 0.2

- 21.2

June

17.1

2.2

0.0

14.9

9.3

5.0

- 0.2

- 0.4

1.1

July

14.9

0.7

1.2

13.0

- 0.7

- 7.5

- 0.4

- 0.1

21.8

Aug.

6.8

9.1

18.2

- 20.5

- 11.6

4.5

0.9

0.0

- 14.3

Sept.

13.0

2.0

0.0

11.0

13.2

1.7

- 0.4

0.0

- 3.6

Oct.

23.0

0.2

1.0

21.9

- 0.5

- 0.7

0.0

_

23.1

Nov.

6.1

7.3

29.9

- 31.1

- 12.3

- 6.7

0.0

_

- 12.2

Dec.

12.6

2.8

0.8

9.0

8.0

- 6.8

0.4

_

7.5

1997 Jan.

17.1

2.3

6.4

8.5

18.6

- 12.7

- 2.1

- 0.1

4.7

Feb.

- 3.1

2.1

22,7

- 28.0

- 13.8

5.1

0.2

- 0.2

- 19.3

March

5.9

0.6

1.2

4.1

- 13.2

18.4

2.3

_

- 3.4

April

24.9

0.3

3.1

21.5

3.7

- 8.4

0.1

- 0.1

26.1

May

- 15.6

0.2

4.3

- 20.1

11.6

- 3.0

- 0.2

_

- 28.6

June

17.5

1.2

1.0

15.2

11.5

- 1.4

0.4

0.0

4.7

July

18.8

3.6

2.7

12.5

1.6

- 10.1

- 0.3

- 0.1

21.5

Aug.

1.5

2.9

25.3

- 26.7

- 4.6

- 13.3

0.2

_

- 9.0

Sept.

19.9

6.5

0.5

12.8

16.6

- 2.3

0.1

- 0.4

- 1.2

Oct.

24.2

3.4

1.0

19.8

- 3.6

- 5.2

11.3

_

17.3

Nov.

- 27.2

0.4

6.2

- 33.8

- 3.8

4.8

- 10.9

_

- 23.8

Dec.

15.2

1.7

4.6

8.9

- 8.0

5.5

- 0.5

_

11.9

Note: The financing requirement is calculated on the basis of the Nationalbank's balance sheet. Until end-1991 on calculation no allowance is made for fluctuations in Post Giro funds. As from 1989 excluding redemption of foreign short-term government loans (Commercial Paper). As from 1990 excluding redemption of domestic short-term government loans (Treasury bills). On purchase of central-government securities the purchased securities are included in redemptions at transaction value. On maturity of the purchased securities redemptions are reduced by the nominal value of the securities. On calculation of the net financing requirement the Social Pension Fund's net purchase of bonds has been included in the expenditure.
¹⁾ Including repayment of compulsory savings in 1990 - 1992.
²⁾ In contrast to the central government's accounts, as from 1994 the net financing requirement is calculated excluding the premium or discount on purchase of domestic government securities.
³⁾ Including net purchases by non-residents, as specified in Table 31.
⁴⁾ Including the Kingdom of Denmark Mortgage Bank and Post Giro.
⁵⁾ Until end-1991 excluding fluctuations in Post Giro funds.