Lockdown obsessed New Zealand's debt DOUBLES after Covid-19
New Zealand's debt DOUBLES after Covid-19 as lockdown obsessed country announces a $4.6 billion deficit - but it is still BETTER than economists had feared New Zealand announced a $NZ4.6 billion deficit for the year ending in June Treasury's financial statements released on Tuesday amid Covid-19 pandemic New Zealand's debt is now $NZ102 billion up from $NZ57.8 billion May's budget forecasts had expected a $NZ15.1 billion deficit
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New Zealand's finance minister Grant Robertson has unveiled a vastly improved set of government books than in May's budget, bolstered by the country's reaction to the Covid-19 pandemic.
Jacinda Ardern's government recorded a $NZ4.6 billion ($A4.3 billion) deficit for the year ending in June, according to the Treasury's financial statements released on Tuesday.
That is closer to the black than in May's budget, when Mr Robertson forecast a $NZ15.1 billion ($14.3 billion) deficit.
Debt is also lower than forecast, at $NZ102 billion ($A96 billion), or 30 per cent of GDP, rather than the predicted $NZ114 billion ($A108 billion).
Treasury secretary Caralee McLiesh said she saw 'economic resilience' in the books, 'reflecting a
