The 2018/2019 federal Government budget has been tabled and a budget deficit of $14.5 billion has been forecast. A small surplus is then forecast for 2019/2020.
The AOFM has subsequently published its expectations for bond issuance in the 2018/2019 financial year. Total issuance of treasury bonds for the year will be around $70 billion, with weekly bond tenders of around $1 billion each week, in addition to some debt sales via syndicated issues. Index-linked bond issuance in 2018-19 is expected to amount to $5 billion.
The AOFM plans to introduce some new bond lines during the upcoming year. Lines with maturity dates in September 2023, May 2030, December 2030 and May 2041 are expected.
