The New Zealand budget has boosted weekly government benefit payments by up to $55/adult
- 2021 GDP +2.9 pct forecast
- NZ net debt seen peaking at 48% of GDP in 2023; reduces to 43.6% of GDP in 2025
- NZ unemployment rate seen at 5.2% in 2021; to fall back to 4.2% by 2024
- NZ Finance Minister Robertson says long-term effects of pandemic not as severe as previously thought
- weekly benefit rates lifted by between NZ$32 and NZ$55 per adult
New Zealand Debt Management Office (NZDMO) said
- its bond programme for 2021/22 was set at NZ$30 billion, unchanged from its forecast in the half-year update in December
- plans to issue NZ$25 billion in 2022/23, a decrease compared to NZ$30 billion in the half-year update
- 2020/21 programme is unchanged at NZ$45 billion
Reductions in debt issuance were expected to be greater.