French debt costs set to be reduced by 2 billion euros thanks to low rates
France’s borrowing costs are set to have been reduced by around 2 billion euros ($2.2 billion), compared to earlier forecasts, due to the low interest rates currently circulating within world financial markets, said French budget minister Gerald Darmanin, reports Trend referring to Reuters.
“The state is borrowing at extremely low, even negative rates. Over the course of the year, we’re looking at around two billion euros worth of savings generated with regards to what had been forecast in the budget,” Darmanin said in a tweet published late on Tuesday.
Euro zone bond yields have hit record lows this month on fears about a global recession, and on expectations of new stimulus measures from the European Central Bank (ECB) aimed at boosting growth in the euro zone economy.