Cap. 575 Art. 18Annual borrowing plan. 575. 9

(1) For every fiscal year, the Government shall prepare an annual borrowing plan as approved by the Minister, which covers the projected borrowing needs of the Government.

(2) The annual borrowing plan shall be based on the determined medium-term debt management strategy, annual cash flow forecast of the Government and market outlook.

(3) The annual borrowing plan shall be published and shall include the total Government's gross long-term borrowing along with an indicative quarterly calendar for domestic market issuance of Government securities with maturities of more than one year.

(4) For every year, the first annual borrowing plan shall be published by not later than the end of January of the relevant financial year.

(5) For every year, an updated annual borrowing plan shall be approved and published not later than two weeks of the approval of the Government's medium-term debt management strategy for the relevant financial year.

(6) The annual borrowing plan may be updated at least once a year with the approval of the Minister.