Management of financial reserves
The State Treasury is responsible for the State’s cash management, (i) ensuring that there are sufficient funds for State entities to make payments in full and on time; (ii) making cash flow forecasts; (iii) investing financial reserves; and (iv) borrowing, if needed.
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On-lending and guarantees management
The Government may grant a loan or a guarantee to a public institution, a local government, a state-owned enterprise or a state foundation. All loans and state guarantees to foreign institutions and other states must be approved by Parliament. In the Annual Budget, Parliament sets the maximum amount of loans and guarantees the Government may grant that year.
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Financial risk management in the State Treasury
The fundamental principle is to look at the State’s assets and liabilities together – the so-called ALM (asset-liability management) approach - rather than to have one set of rules for debt management and a separate set of rules for asset management.
read moreLast updated: 02.04.2024
