The New Zealand government on Thursday said that the country can attain a budget surplus in 2015 as planned, while reaffirming its goal of capping and reducing public debt.
Presenting the Budget 2013, Finance Minister Bill English said that the government is forecast to attain an operating surplus before gains and losses of NZ$75 million in 2014-15, an improvement from a deficit of NZ$18.4 billion in 2010-11.
Net core crown debt is forecast to peak at 28.7 percent of GDP in 2014-15, and decline thereafter, he said.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.