In the guideline decision for 2023, the Government decided to phase out national debt foreign currency exposure because it entails higher risk without providing systematic cost benefits. National debt foreign currency exposure will be gradually phased out from the beginning of 2023 until the end of 2026, with a target value of zero from 2027. The decision to gradually phase out foreign currency exposure over a four-year period is based on weighing up the cost benefits and the risks associated with the length of the period. Progress in phasing out national debt foreign currency exposure will be evaluated against a constant rate of reduction for the period 2023–2026.

A minor amendment proposes that the reporting of private market borrowing results will cease. Since the last premium bonds matured in December 2021, the Government considers that the reporting of cost savings from private market borrowing can cease.

Otherwise there will be no changes to the composition of the national debt, which is to be steered towards the following:

• inflation-linked krona debt to be 20 per cent of the national debt in the long term;
• nominal krona debt to constitute the remainder of national debt; and
• maturity (in terms of duration) of the national debt is to be steered towards 3.5 to 6 years.