The New Zealand government budget has been released.
- Sees 2023/24 GDP 1.0% ( HYEFU -0.3%)
- Unemployment rate
seen at 5.0% in 2023/24 ( HYEFU 5.5%) - NZ treasury is no
longer forecasting the country to move into recession - NZ government
forecast to return to surplus in 2025-26, one year later than
previous forecast - NZ finmin Robertson
says operating package slightly higher due to impact of weather
events - NZ Treasury says
recent widening of current account deficit expected to reverse
—
HYEFU was the Half Year Economic and Fiscal Update
NZD/USD is barely changed for the session.