The Bulgarian government will pay BGN 980mn ( EUR 501mn ) worth of agriculture subsidies in the last week of January, agriculture minister Dimitar Grekov was quoted as saying by state radio broadcaster BNR. The amount will be paid from the fiscal reserve and will be reimbursed by the European Commission later on. The finance ministry has adjusted its bond offering calendar in order to accommodate the transfer of subsidies and preserve the stability of the fiscal reserves. It has already sold BGN 400mn worth of six-month government securities on January 6 and also BGN 50mn in 10.5-year T-bonds on January 13 . The ministry will offer BGN 50mn in five-year bonds on January 20 and the last auction for this month will be on January 27 when Bulgaria will auction BGN 400mn in nine-month Treasury bills.
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