- More than half of the July sales were securities with an interest rate dependent on the inflation level
- The Ministry of Finance announces that after August, sales from the record-breaking 2021, in which customers have invested over PLN 43.3 billion, will be exceeded
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“In July, we sold savings bonds with a total value of PLN 10.3bn,” the Ministry of Finance announced on Friday. This is a good result, but far from the record in June. At that time, Poles invested over PLN 14 billion in government papers.
The Ministry of Finance data shows that 4-year bonds (COI) were the most frequently purchased securities. Individual buyers spent PLN 4.7 billion on their purchase (46% share in the sales structure). Annual bonds (ROR) were also popular, for which PLN 3.4 billion (33% share in sales), 2-year bonds (DOR) for over PLN 830 million (8%), 10-year bonds (PLN 750 million) were also popular. PLN, i.e. 7%) and 3-month (PLN 412 million, 4%). Subsequently, savers chose 3-year bonds, which they bought for over PLN 130 million (1.3%).
– More than half of the sales in July were bonds, the interest of which in subsequent interest periods depends on the level of inflation. Poles spent nearly PLN 5.5 billion on their purchase, which was 53 percent. all bonds savings offered in July – comments Karol Czarnecki, director of the public debt department at the Ministry of Finance.
It is worth noting that although the nominal interest rate on treasury securities, in some cases reaching even 7 percent. on an annual basis, it may seem high, it is still lower than inflation (similar to bank deposits, where you can find an interest rate of 6-7% per annum). In In July, the consumer price index accelerated to 15.6 percent.throughout the year, the average inflation may reach around 13-14 percent.
“The amount of PLN 73 million was allocated to the purchase of family bonds dedicated to the beneficiaries of the Family 500 plus program. Family bonds are intended only for people receiving benefits under the Family 500 plus program who want to save for the future needs of their children. Program beneficiaries can purchase this type of bonds. up to the amount of the child benefit granted “- the Ministry of Finance announced. It added that family bonds are available for sale and can be purchased at any time.
The growing sale of Treasury securities among individual buyers is good news for the state budget, whose borrowing needs are great due to large additional expenses (including defense, social programs and various types of shields). All the more so as the costs of debt servicing and new issuance are growing, and demand from bankswhich they hold about 55 percent on their balance sheets. Polish treasury securities is smaller.
– From the beginning of the year, we sold bonds for PLN 41.2 billion, which means that in August, we will exceed the level of sales from the record-breaking 2021, in which clients invested over PLN 43.3 billion in our bonds. Such high sales confirm that our clients appreciate the advantages offered by Treasury savings bonds. Our bonds are primarily security guaranteed by the State Treasury, and the monthly offer allows you to flexibly adjust the savings structure to the individual needs of customers – says Czarnecki.
At the end of June, households had Treasury bonds worth PLN 70 billion, which accounted for 8.1 percent. this type of securities issued by the Polish state. This is the highest share in history, still in 2015 it was below 2%. After the successful sale in July, the value and share will increase even more.
From August 1, WIBOR-dependent bonds will no longer be availablea they will be replaced by three-year bonds with a fixed interest rate throughout the savings period at the level of 6.5%. This is exactly the main interest rate at the National Bank of Poland.
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