Finmin English says he is more optimistic NZ might have 2015/16 surplus than Treasury is
- New Zealand sees 2015/16 OBEGAL deficit NZ$0.401bln (budget NZ$0.176 bln)
- Sees 2016/17 OBEGAL surplus NZ$0.356 bln (budget NZ$1.476 bln)
- Sees 2015/16 net debt 26.9pct of GDP (budget 26.3 pct)
- Sees net debt declining to 24 pct GDP by 2020
- 2015/16 cash balance NZ$-5.398bln; 2016/17 NZ$-4.662 bln
- Sees March 2016 yr GDP at 2.1 pct (budget +3.1 pct); March 2017 GDP2.4 pct (budget +2.8 pct)
- NZDMO2015/16 bond issuance unchanged from budget, increases issuance by NZ$2b each yr for next 3 yrs
- NZ DMO plans to launch new April 2025 nominal bond in second half of 2015/16
More from English:
- NZ budget is broadly in balance
- Expects continual but gradual economic improvement over next five years
- China, El Nino, dairy prices, Auckland housing mkt main econ risks
- Capital allowance for budget 2016 to be increased by NZ$1 billion
- Satisfied RBNZ is making monetary policy decisions consistent with inflation target
- Is more optimistic NZ might have 2015/16 surplus than treasury is
Headlines via Reuters
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If you're having trouble sleeping, full text is here
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NZD is down a little on the release, backing off from just above 0.6780
