On 17 May, following the New Zealand Treasury’s release of the Budget Economic and Fiscal Update 2018, the New Zealand Debt Management Office (NZDMO) revealed a NZ$8 billion (US$5.5 billion) borrowing programme for the 2018/19 financial year. The forecast is NZ$1 billion higher than the estimate given at the Half Year Economic and Fiscal Update (HYEFU) in December 2017.
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