Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


NZ 'wellbeing' Budget Release - NZD unchanged

The partially-leaked NZ “wellbeing” Budget has just been officially released (and is currently being delivered in Parliament).

The key budgetary points are:
2018/19 Operating surplus before gains, losses (OBEGAL) +$3.465 bio (half year economic fiscal update (HYEFU) +$1.724 bio)
2019/20 OBEGAL surplus +$1.313 bio (HYEFU +$4.113 bio)
2020/21 OBEGAL surplus +$2.131 bio (HYEFU +$5.084 bio)
2018/19 Net debt 20.1% of GDP (HYEFU 20.9%)
2018/19 Cash balance -$2.785 bio (HYEFU -$4.993 bio)
2019/20 Cash balance -$4.191 billion (HYEFU $2.506 bio)
2018/19 GDP +2.1% (HYEFU +2.9%)
Increasing operating allowance to average $3.8 bio each year over 4-year forecast period from $2.4 bio
Plans to move to 15-25% debt target range from 2022, target remains 20% of GDP until then
Increased government spending will help domestic economy in face of global slowdown
US-China trade dispute, Brexit uncertainty and slowing global economy pose continuing risks
The NZD is unchanged in immediate response.

Current indicative levels are:

NZD-USD 0.6505 / 0.6530
NZD-AUD 0.9400 / 0.9425
NZD-EUR 0.5840 / 0.5965
NZD-GBP 0.5150 / 0.5175
NZD-JPY 71.25 / 71.50


© Scoop Media

Business Headlines | Sci-Tech Headlines


Seeking 'Clarity': Crown To Appeal Southern Response Decision, Offers Costs

“It is our intention that the clarity that will come from the outcome of these proceedings will enable the Crown to work with Southern Response to provide a soundly based proactive solution to those people that are affected.” More>>

Thinking Of The Children: Plan For Classification For Commercial Video On Demand

Classifying on-demand video content will be made mandatory to bring it in line with other media and provide better guidance and protections to families and young people, says Internal Affairs Minister Tracey Martin. More>>

Cheques Out: Inland Revenue And ACC Push For Paperless

Inland Revenue and the Accident Compensation Corporation are calling ‘time’ on cheques. From March next year, IR and ACC will no longer accept payments by cheque from customers who are able to use alternative payment options. More>>


"Vision And Growth": Capital Markets 2029 Report

Broader participation by New Zealanders, greater access to growth capital for New Zealand enterprises, and more choices for investors drive the recommendations in the Capital Markets 2029 report released today. More>>


Forest & Bird: Call For More Funding To Stop Plague Of Wallabies

Wallabies could spread over a third of New Zealand within the next 50 years, unless control is increased dramatically, says Forest & Bird central North Island regional manager Rebecca Stirnemann. More>>