The Spanish treasury targets the issuance of 65 billion euros ($71.74 billion) of net debt in 2024, the same amount as in 2023, Cinco Dias reported, citing Carlos Cuerpo, the treasury chief.

The government is still working on the 2024 budget and the financing needs will be unveiled in the first weeks of January, though it will not include any surprises, Cuerpo said in an interview with the Spanish newspaper.

"We are very predictable on our strategy from one year to the other," Cuerpo was quoted as saying. "These 65 billion euros in net issuance is a good reference for 2024."

Back in October, Economy Minister Nadia Calvino lowered the planned net debt to be sold in 2023 to 65 billion euros from an original 70 billion euros.

The government expects to reduce its debt-to-GDP ratio to 108.1% at the end of 2023 and further to 106.3% at the end of next year.

($1 = 0.9060 euros) (Reporting by Inti Landauro; Editing by Sharon Singleton)