WELLINGTON (Reuters) - The New Zealand Debt Management Office (NZDMO) on Thursday kept its bond issuance plans unchanged for the next three years but raised it by NZ$1 billion for 2020/21.
The DMO plans to issue NZ$7 billion ($4.91 billion) in 2017/18, compared to NZ$7 billion in the pre-election update in August.
It raised its issuance plans for 2020/21 to NZ$7 billion from NZ$6 billion in its pre-election update.
The new Labour-led government, which took the helm in October, has said it will reduce government debt at a slower pace than the previous ruling National-led regime as it seeks to boost spending on social services.
New Zealand is targeting net debt to gross domestic product of 20 percent by 2022 from a forecast 21.7 in 2018.
(Reporting by Ana Nicolaci da Costa and Charlotte Greenflield; Editing by Shri Navaratnam)
