N.Z. PLANS EIGHT 250 MLN DLR 1987/88 BOND TENDERS
Finance Minister Roger Douglas said
eight bond tenders of 250 mln dlrs each are planned for the
year ending March 1988.
    Douglas said in a statement the June quarter borrowing
program will not include a May tender, but a 250 mln dlr tender
will be held on June 11.
    Overfunding in 1986/87 has removed the need for a May
tender, he said.
    Preliminary estimates put net public sector injections for
1987/88 year at 2.1 billion dlrs.
    The fiscal deficit for 1987/88 is forecast at 2.2 billion
dlrs compared with a forecast of 2.45 billion for 1986/87 and
1.87 billion a year earlier.
    However, Douglas said the 1987/88 estimate is subject to
uncertainties over the results of pre-budget spending reviews
and tax forecasts and over the effect the program of
"corporatising" certain government departments will have on
liquidity.
    Douglas said whatever the outcome of these influences the
net public sector injections will continue to be fully funded
on a fiscal year basis.
 REUTER
