Budget 2019: Capital demands see increased bond programme

Thu, 30 May 2019

By Paul McBeth May 30 (BusinessDesk) - The government will borrow an extra $6 billion over the next five years to cover a shortfall in its cash flows to meet a $41.1 billion capital spending programme. The New Zealand Debt Management Office will issue $8 billion in the year ending June 30, rising to $10 billion of government bonds in the 2020 and 2021 financial years, falling to $8 billion and $6 billion in the following years. That’s an extra $5 billion of net bond issuance over the five-year horizon, and the DMO said it will issue an...

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