New Zealand releases half year economic & fiscal report

The new Labour-NZ First Government has released its first economic and fiscal report, noting that the contry is now projected to see a 2018/19 OBEGAL surplus of NZ$+2.828 bln (PREFU NZ$+3.515 bln).

Headlines - via Reuters

Sees 2019/20 obegal surplus nz$+4.979 bln (prefu nz$+5.746 bln)

Sees 2017/18 net debt 21.7 pct of gdp (prefu 22.0 pct)

NZ targets net debt of 20 pct of gdp by 2022

2017/18 cash balance nz$-2.647 bln (prefu nz$-1.356)

2018/19 cash balance nz$-4.657 billion (prefu nz$-1.365)

New Zealand treasury cuts GDP forecasts for next two years compared to PREFU

New Zealand sees 2017/18 gdp +3.3 pct (prefu +3.5 pct); 2018/19 +3.4 (prefu +3.5 pct)