Fitch ratings agency casts doubt on New Zealand's future prosperity

Crunching the Budget numbers: Fitch says projections show wider deficits. (Image: BusinessDesk)

Thu, 13 Jun 2024

A Fitch ratings analyst says the agency is having second thoughts about New Zealand’s growth prospects because of slowing growth in China, potentially lower immigration flows and a “higher for longer” interest rate environment.Krisjanis Krustins, Fitch Ratings’ sovereigns director for Asia Pacific, said poorer growth prospects, and therefore a weaker tax take, was a big factor feeding into the agency’s assessment of the government’s fiscal position – which it earlier indicated looked weaker after the Bu...

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