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III. Debt management strategy over the last decade: reduce FX and roll-over risk 100 0 Central Government Debt (in % of GDP, end-period) 90 80 70 60 60 Gross Debt Net Debt 50 47.8 40 40 30 20 20 10 42,0 Currency and Maturity Composition of Debt (end-period) Debt in Foreign Currency (in % of total) -Average time to maturity (in years) 13.7 49 49 0 2005 2007 2009 2011 2013 2015 2017Q3 2005 2007 2009 2011 2013 2015 2016 2017Q3 Source: Debt Management Unit, Ministry of Economy and Finance 12

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