Greater issuance for AOFM after federal budget goes awry

Following the federal government's mid-year economic and fiscal outlook update (MYEFO), the Australian Office of Financial Management (AOFM) has increased its borrowing programme for 2013/14. Analysts are more concerned about the government's budget update given a stark revision in what has been a relatively stable global period, and expect rating agencies to hint at a desire to see a medium-term plan to protect Australia's triple-A rating.