The Finance Ministry on Tuesday sold nearly €148 million worth of treasury bills at interest rates of 2% and over, borrowing less than planned.

With €225.6 million worth of treasury bills falling due soon, the ministry offered €200 million for subscription.

Financial institutions submitted bids worth over €577 million and the ministry accepted €147.97 million worth.

Treasury bills worth €15 million were issued with three months’ maturity at an interest rate of 2%, as were bills worth €23 million with six months’ maturity and 2.2% interest, and bills worth €109.97 million with 12 months’ maturity and 2.5% interest.

The balance of subscribed kuna treasury bills has now decreased by €77.66 million to €2.62 billion.

The next auction is set for 7 February.