For background on this, check out the preview I posted here

  • NZ finmin says government considering second family income package in 2020
  • NZ finmin says will not consider tax cuts until 2020 unless economic conditions are better than anticipated

NZ sees 2016/17 operating surplus before gains, losses NZ$+3.706 bln (budget forecast $+1.621 bln)

  • Sees 2017/18 OBEGAL surplus NZ$2.869 bln (budget forecast NZ$+2.858 bln)
  • Sees 2018/19 OBEGAL surplus NZ$3.515 bln (budget forecast NZ$+4.051 bln)
  • Sees 2016/17 net debt 22.5 pct of GDP (budget forecast 23.2 pct)
  • Sees 2016/17 cash balance NZ$+1.497 bln (budget forecast NZ$+ 0.071 bln)
  • Sees 2017/18 cash balance NZ$-1.356 bln (budget forecast NZ$-1.789 bln)
  • Sees 2017/18 year GDP growth at 3.5 pct (budget forecast 3.7 pct)

Quick Headlines via Reuters

A mixed bag, good results but further out projections coming in a little under previous forecasts (GDP for 17/18, surplus for 18/19). Still, not bad at all.

NZD a few tics lower and pretty much on its overnight low now;

... and as I update, lower than overnight now ...

more to come