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New Zealand Economic and Financial Overview 2015

Summary of Direct Public Debt

Funded and Floating Debt

The following table sets forth the direct funded and floating debt of the Government on the dates indicated. For the purposes of all debt tables herein, “funded debt” means indebtedness with an original maturity of one year or more and “floating debt” means indebtedness with an original maturity of less than one year. Funded debt, and therefore total direct debt, includes swap transactions.

Total direct debt includes a net swap payable ($381.8 million at 30 June 2014) with offsetting impacts on internal and external funded debt. Swap transactions, which are included in almost all the following tables, decrease external funded debt and increase internal funded debt in 2014.

As at 30 June
(dollar amounts in millions)
2010 2011 2012 2013 2014

Funded Debt (1)

         
       Internal (2) 38,575.5 60,519.9 64,006.2 67,587.3 73,121.6
       External (3) (4) 2,197.2 33.4 (308.5) (1,222.5) (342.7)

Floating Debt

         
      Internal Debt (5) 8,065.0 7,326.0 10,081.0 4,735.0 3,800.0
      External Debt (3) (6) - 180.6 - - -
Total Direct Debt 48,837.7 68,059.9 73,778.7 71,099.8 76,598.9
Total Public Debt as a % of GDP (7)       25.8% 34.1% 35.5% 33.2% 33.2%

(1) Includes the effect of swap transactions. Excludes indebtedness to international financial organisations arising from membership.

(2) Includes Government Wholesale Bonds, Kiwi Bonds, Index Linked Bonds.

(3) External debt is converted at the mid-point of the 2:00 P.M. spot rate on 30 June for each year.

(4) Includes Public Bonds, Private Placements, Syndicated Loans, and Medium Term Notes.

(5) Treasury Bills.

(6) Includes Sovereign Notes and Euro-Commercial Paper.

(7) GDP: Treasury Estimate for June years.

 

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