The Ministry of Finance presents to the public The Czech Republic Funding and Debt Management Strategy for 2026 – Second Half Update. The updated planned financing needs for 2026 amount to CZK 738.2 billion, i.e. approximately 8.2% of GDP.

In the first half of 2026, all redemptions of CZK-denominated state debt realized in 2026 were covered through the sale of government bonds with maturities of over one year. The Ministry of Finance has therefore created sufficient room for smooth coverage of the remaining financing needs through further issuance activity in the second half of the year. This was significantly supported by the record issuance of “Dluhopis Republiky” bonds in a total nominal value of CZK 74.0 billion, which increased the total nominal value of these government bonds held by citizens to a record CZK 130.7 billion, while their share of state debt rose to 3.4%.

At the same time, the Updated Strategy adjusts the government bond issuance programme on the domestic primary market, reducing the expected range of gross issuance of CZK-denominated medium-term and long-term government bonds to between CZK 270 billion and CZK 370 billion. The reduction in issuance needs on the domestic primary market was mainly supported by the record demand from citizens for “Dluhopis Republiky” bonds, which represented a significant additional source of state financing and positively affected both the funding structure and the diversification of the investor base. The limits and targets for the monitored risk indicators of the state debt portfolio remain unchanged and valid until the end of 2026. The Updated Strategy was presented and discussed with representatives of primary dealers in Czech government securities and the Czech National Bank at the 33rd Primary Dealer Committee meeting held on 23 June 2026 in accordance with Article IX of the valid Primary Dealer Agreement for Czech Government Securities.