New Zealand Treasury half yearly update:

  • New Zealand to see slower growth than forecast in half yearly update
  • Sees annual fy24 GDP at +0.1% down from +1.5% forecast in half yearly update
  • Sees annual fy25 GDP at +2.1% up from +1.5% forecast in half yearly update
  • Sees annual fy24 CPI at +3.3% down from +4.1% forecast in half yearly update
  • Scenario is not a fiscal forecast as does not include all information from government entities

New Zealand Finance Minister Nicola Willis:

  • OBEGAL surplus in 2027-2028 is possible but it’s not a given
  • Will not be chasing OBEGAL surplus in any given year “at any cost”
  • OBEGAL surplus in 2026-27 almost certainly not achievable

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Operating balance before gains and losses (OBEGAL)