Free Trial

Key points from the budget: - Sees......>

NEW ZEALAND
NEW ZEALAND: Key points from the budget:
- Sees budget deficit of NZ$29.6bn in FY20/21
- Plans to issue NZ$60bbn worth of NZGBs in FY20/21
- Plans to issue NZ$165bb worth of NZGBs in 4 years to June '24
- Net debt will rise to 53.6% of GDP in 2023
- Sees economy contracting by an annual average of 4.6% in 2019 & 20
- Sees economy returning to growth in 2020-21
- Sees unemployment rate peaking at 9.8% in Q320
- Raises infrastructure spending by NZ$3bn to NZ$15bn
- Notes that the targeted wage subsidy extension will cost NZ$3.2bn
- Headlines via BBG & DJ
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.