New Zealand Treasury statement, pre-election economic and fiscal update:
- forecasts the jobless rate at 4.8% in 2023/24 vs. earlier at 5.0%
- forecasts economic growth in Q2 2023, Q3 2023 and Q4 2023
- increases bond program by NZ$9bn over four years
- sees annual average GDP growth of 1.3% in 2023-24
- sees budget deficit of NZ$11.4bn in 2023-24
- return to budget surplus delayed one year to 2027
NZD/USD little changed circa 0.5910.