Half-year economic, fiscal update due Dec. 16

Tue, 24 Nov 2020

New Zealand recorded an operating deficit before gains and losses of $23 billion in the year ended June 30 as covid-19 hit the economy.The result, in contrast to the $7.4 billion surplus reported in the same period a year earlier, was still $5.2 billion better than the Treasury had forecast in budget 2020 “due to a stronger-than expected economy and careful management of government spending,” Finance Minister Grant Robertson said. Secretary to the Treasury Caralee McLiesh agreed. “Our economy has proven more resilient tha...

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