AOFM announces A$18 billion reduction to 2018/19 funding requirement

On 18 December, following the release of the Australian government’s mid-year economic and fiscal outlook (MYEFO), the Australian Office of Financial Management (AOFM) revealed a reduced 2018/19 financial year borrowing requirement of around A$52 billion (US$37.3 billion), down from around A$70 billion at the 2018/19 budget.