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Press Release No.1 1998 - Revised Commonwealth Government Debt Issue Program for 1997-98


Tuesday, 13 January 1998

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The Treasurer released the Mid-Year Economic and Fiscal Outlook (MYEFO) for 1997-98 on 18 December 1997. The MYEFO indicated a significant increase in the estimated headline budget surplus for 1997-98 to an estimated $11.8 billion, from $6.4 billion estimated at budget time.

This larger headline budget surplus will generate a significantly larger reduction in Commonwealth Government debt in 1997-98. However, a reasonable debt issue program has been maintained for 1997-98 by increasing the program of early repurchases of debt.

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