Despite 2011 being an election year, New Zealand’s government today announced a budget with few giveaways. The aim to move back into a surplus by 2014-15 will be tough to achieve, especially if initial estimates of the cost of rebuilding Christchurch are revised up. Nonetheless, fiscal policy will probably need to be kept tight to avoid the external deficit ballooning and bringing a debt downgrade.
Subscriber content
Read this in full, free
Start a free trial and use one of your 10 free starter credits to unlock this piece.