New Zealand Treasury half yearly update:
New Zealand to see slower growth than forecast in half yearly update
Sees annual fy24 GDP at +0.1% down from +1.5% forecast in half yearly
update
Sees annual fy25 GDP at +2.1% up from +1.5% forecast in half yearly
update
Sees annual fy24 CPI at +3.3% down from +4.1% forecast in half yearly
update
Scenario is not a fiscal forecast as does not include all
information from government entities
New Zealand Finance Minister Nicola Willis:
OBEGAL surplus in 2027-2028 is possible but it’s not a given
Will not be chasing OBEGAL surplus in any given year “at any cost”
OBEGAL surplus in 2026-27 almost certainly not achievable
—
Operating balance before gains and losses (OBEGAL)
This article was written by Eamonn Sheridan at www.forexlive.com.