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NZ Govt Pre-election, Economic Fiscal Forecasts
NZ Govt Pre-election, Economic Fiscal Forecasts
The NZ Government Pre-election, Economic Fiscal Update has just been released.
The key points are:
2016/17 operating surplus before gains, losses (obegal)
NZ$+3.706 bln (budget forecast $+1.621 bln)
2017/18
Obegal surplus nz$2.869 bln (budget forecast NZ$+2.858
bln)
2018/19 Obegal surplus nz$3.515 bln (budget forecast
NZ$+4.051 bln)
2016/17 net debt 22.5% of GDP (budget
forecast 23.2%)
2016/17 cash balance NZ$+1.497 bln
(budget forecast NZ$+ 0.071 bln)
2017/18 cash balance
NZ$-1.356 bln (budget forecast NZ$-1.789 bln)
2017/18
year GDP growth at 3.5% (budget forecast 3.7%)
NZ Fin Min
says government considering second family income package in
2020
NZ Fin Min says will not consider tax cuts until
2020 unless economic conditions are better than anticipated
The NZD is little changed immediate response to this
release, however the NZDUSD has subsequently fallen sharply
on the back of a broadly stronger USD and falling commodity
prices (iron ore down 4.3%).
Current indicative rates are:
NZD-USD 0.7245 / 0.7270
NZD-AUD
0.9185 / 0.9210
NZD-EUR 0.6160 / 0.66185
NZD-GBP
0.5650 / 0.5675
NZD-JPY 79.40 / 79.65
ends
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