New Zealand Embassy Tokyo, Japan
NZ economy builds momentum
The latest Half-Year Economic and Fiscal Update, issued by the New Zealand Treasury today, forecasts a strong upturn in economic performance, with economic growth reaching 3.6% in 2015 and unemployment falling. The latest forecasts show the Government posting a modest economic surplus of $86 million in 2014/15, increasing to $1.7 billion and $3.1 billion in the following two years. Net Crown debt is forecast to peak at 26.5% of GDP in 2014/15 before falling to 16.9% of GDP in 2019/20. The New Zealand economy grew 2.5% in the year to June 2013.