The new Labour-NZ First Government releases its first take on the country's fiscal accounts

  • New Zealand sees 2018/19 OBEGAL surplus NZ$+2.828 bln (PREFU NZ$+3.515 bln)
  • sees 2019/20 obegal surplus nz$+4.979 bln (prefu nz$+5.746 bln)
  • sees 2017/18 net debt 21.7 pct of gdp (prefu 22.0 pct)
  • NZ targets net debt of 20 pct of gdp by 2022
  • 2017/18 cash balance nz$-2.647 bln (prefu nz$-1.356)
  • 2018/19 cash balance nz$-4.657 billion (prefu nz$-1.365)
  • New Zealand treasury cuts GDP forecasts for next two years compared to PREFU
  • New Zealand sees 2017/18 gdp +3.3 pct (prefu +3.5 pct); 2018/19 +3.4 (prefu +3.5 pct)

Summary Headlines via Reuters