Strong NZ govt balance sheet about to blow out

Tue, 31 Mar 2020

A strong balance sheet will help the New Zealand government weather covid-19, although its latest accounts already showed signs of the pandemic's impact.“These results have reflected some of the covid-19 related impacts, mainly in relation to the significant losses impacting the operating balance, total borrowings and assets and liabilities values,” the Treasury said.Core Crown tax revenue and operating expenses had not been significantly impacted for these financial statements, Treasury officials noted.Net core crown debt was $59.8 billion at...

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