The New South Wales Government recently released its 2018/2019 budget and as a result, New South Wales Treasury Corporation (NSWTC) estimates it will borrow $6.6 billion in 2018/2019. This figure is about $3.5 billion less than forecast in NSWTC’s 2017/2018 funding requirement and it is the result of what NSWTC referred to as “surplus financial assets”.
Around two-thirds of NSWTC’s bond issues scheduled for the 2018/2019 year will be used to finance $4.2 billion of NSWTC bonds due to mature during the year. The balance of the $6.6 billion to be borrowed will be for new expenditures.