The Czech Republic Funding and Debt Management Strategy for 2026 - Second Half Update will be published on an exceptional basis on 17 July 2026, alongside the Debt Portfolio Management Quarterly Report - 1st Half of 2026. This reflects the exceptionally strong demand of citizens in the “Dluhopis Republiky” bond issues offered during the ongoing subscription period, with the expected end of the subscription period on 28 June 2026, the deadline for payment of the bond subscription price by 7 July 2026, and the issuance of the respective bond issues on 15 July 2026. The aim is to fully take into account the complete results of these issues, including the quantification of their impact on the financing programme, the indicative issuance plan of CZK-denominated medium-term and long-term government bonds, and the structure of covering the financing needs of the state in the second half of this year.

^{Updated on 8 June 2026.}

Act No. 38/2026 Coll., on the State Budget of the Czech Republic for 2026, entered into force on 21 March 2026. Based on this Act, it is possible to present an updated estimate of the planned total financing needs for 2026, amounting to CZK 737.8 billion, i.e. approximately 8.2% of GDP. The actual amount of financing needs will primarily depend on the actual performance of the state budget and on any exchange operations or buy backs of government bonds carried out during the year, in particular for the purpose of managing refinancing risk. The quantification of interest expenditures of the state budget will be included in the Czech Republic Debt Portfolio Management Quarterly Report – 1st Quarter 2026. The standard semi annual update of the Czech Republic Funding and Debt Management Strategy for 2026 will, where appropriate, also take into account the latest developments in domestic and foreign financial markets, as well as, in particular, the progress and results of the resumed direct sale of government bonds to citizens.

^{Updated on 26 March 2026.}

The Ministry of Finance presents to the public the Czech Republic Funding and Debt Management Strategy for 2026, which takes into account the necessary period of operations under the indicators of the provisional budget in the first weeks of 2026. After the approval of the draft State Budget Act of the Czech Republic for 2026, its update will be published, primarily concerning the quantification of the total financing needs of the state in 2026 and in the outlook until 2028, as well as the quantification of interest expenditures of the state budget. This update will not affect the presented annual framework issuance plan of government bonds.

For 2026, the state debt redemptions amount to CZK 423.6 billion, including the CZK-denominated state treasury bills of CZK 117.0 billion, which have once again become a more significant debt instrument, also due to their current cost-effectiveness.

During the first quarter of 2026, the standard issuance activity of the state will take place, which will not be influenced by the operational needs of state organizational units under the indicators of the provisional budget, primarily for the purpose of pre-financing state debt redemptions in individual currencies.

The detailed evaluation in the area of the development of the state debt, the issuance activity of the state, the government bond market, the development of interest expenditure of the state budget, the risk monitoring of debt portfolio and annual performance evaluation of Primary Dealers in Czech Government Securities will be published as part of the Czech Republic Government Debt Management Annual Report for 2025 on 27 February 2026.