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
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HYEFU was the Half Year Economic and Fiscal Update
NZD/USD is barely changed for the session.