UPDATE 1-Denmark sees sharply higher borrowing need in 2011

* Raises ’10 borrowing need to 129 bln DKK; rising to 180
bln ’11

* Sees 2010 domestic need at 113 bln DKK, 2011 at 142 bln
(Adds detail)

COPENHAGEN, Aug 23 (BestGrowthStock) – Denmark’s centre-right
government on Monday forecast a net central government
borrowing need in 2011 of 180 billion Danish crowns ($30.7
billion), of which 142 billion is for domestic borrowing.

The domestic borrowing need reflects how much Denmark plans
to issue in Danish crowns debt.

In a statement on the eve of the presentation of its 2011
budget bill, the finance ministry bumped up the forecast for
2010 to 129 billion crowns from a May forecast of 123 billion.
The domestic borrowing need accounts for 113 billion crowns.

The need this year is held down by the government drawing
heavily, in the amount of 78 billion crowns, on its own account
at the central bank, whereas the 2011 plan does not include any
withdrawals from the account.
(Reporting by Anna Ringstrom; Editing by Dan Grebler)

UPDATE 1-Denmark sees sharply higher borrowing need in 2011