Following the release of the Queensland Mid-Year Fiscal and Economic Review (MYFER), the Queensland Government has published its amended funding programme for the year to June 2016. It was previously expecting to require $6.5 billion to cover maturing bonds and government spending but the figure has been revised down to $5.9 billion on the back of a reduction in expected government borrowing, even though the budget deficit will be higher than previously expected. State government bodies will seek $500 million less than previously expected and local government and “other entities” will require $100 million less. Queensland Treasury Corporation said it will continue to issue benchmark bonds to maintain liquidity in existing debt series but it will also seek to issue non-benchmark securities, including floating rate notes, to smooth its maturity profile over time.
*Numbers are rounded to the nearest AUD100 million. source: QTC
# Retail water entities, universities, grammar schools and water boards.
Click here for the full Mid-Year Fiscal and Economic Review document.