The Ministry of Finance presents, in accordance with the calendar of published information, the Debt Portfolio Management Quarterly Report, which contains the state of fulfilment of the operational funding programme and issuance activity plans in relation to the announced strategic targets and limits specified in the Czech Republic Funding and Debt Management Strategy for 2026 published on 6 January 2026. It also includes the quantification of interest expenditures of the state budget for the year 2026 and regular quarterly evaluations of primary dealers for the period from the second quarter of 2025 to the first quarter of 2026, with PPF banka a.s., KBC Bank NV / Československá obchodní banka, a. s. and Deutsche Bank AG being the three most active banks in this period.

The absolute value of state debt reached CZK 3,719.8 billion at the end of the first quarter of 2026, which represents an increase of CZK 42.3 billion compared to the end of 2025. It is mainly due to the sale of government securities during the first quarter of 2026 for the ongoing financing of the state budget deficit, which amounted to CZK 27.6 billion at the end of March, as well as to the pre-financing aimed at ensuring the smooth coverage of part of state debt redemptions in the second quarter of 2026. In relative terms to GDP, state debt remained stable at 43% compared to the end of the last year.

During the first quarter of 2026, CZK-denominated medium-term and long-term government bonds in a total nominal value of CZK 130.9 billion were sold on the primary and secondary market with the average residual time to maturity of 9.9 years. The average yield on the newly sold fixed-rate CZK-denominated medium-term and long-term government bonds was 4.5% p.a. In addition, the CZK-denominated state treasury bills in a total nominal value of CZK 26.5 billion were sold and, at the same time, there was no redemption of the CZK-denominated state treasury bills during the first quarter of 2026. The total nominal value of the CZK-denominated state treasury bills outstanding at the end of the first quarter of 2026 was CZK 143.5 billion.