17 May 2013

Govt borrowing to reduce

11:27 am on 17 May 2013

The Government plans to borrow $3 billion less over the next four years than it expected to when the Half-Year Economic and Fiscal Update was issued in December.

The Government now plans to borrow $18 billion over the four years, issuing $2 billion fewer bonds in 2014/15 and $1 billion fewer Treasury bills in 2013/14.

Treasury bills on issue are expected to average $4 billion over the four years.

It plans to issue up to $5 billion of inflation-indexed bonds in the 2013/14 fiscal year, subject to market conditions.