2022/23 New Zealand Government Bond Programme Set at NZ$25 Billion
In conjunction with the Budget Economic and Fiscal Update 2022, the Treasury has updated the forecast core Crown borrowing programme.
The forecast 2022/23 New Zealand Government Bond (NZGB) programme has been set at NZ$25 billion, NZ$7 billion higher than that published at the Half Year Economic and Fiscal Update 2021 (HYEFU). The forecast NZGB programmes for 2023/24 and 2024/25 have been increased by NZ$7 billion each year, to NZ$25 billion, while the 2025/26 NZGB programme has been increase by NZ$5 billion to NZ$15 billion.
The 2021/22 year is unchanged, with a NZ$20 billion NZGB programme.
Treasury Bills (T-Bills) on issue at the end of 2022/23 are forecast to be NZ$3 billion. Forecast T-Bills on issue remain at NZ$3 billion, in the remainder of the forecast years.