The government budget developed better than expected in 2020. The Danish central government debt amounted to kr. 536 billion, equal to 23 per cent of GDP at the end of 2020. The course of the covid-19 crisis has clearly highlighted the importance of the central government having access to a broad and diversified investor base through multiple financing channels. Despite periods with market turmoil, domestic government bonds were sold at record low yields. On average, nominal government bonds were sold at a yield to maturity of -0.33 per cent p.a. and an average maturity of 11.6 years. Interest costs on the central government debt totalled 0.7 per cent of GDP.

For the remainder of 1st Half of 2021, switch operations will be offered via the auction system MTS PAF which is currently used for the regular auctions of Danish government securities. First time will be on 11 February 2021.