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NZ finance minister says debt level $43 bln lower than expected, promises 'bold action' on housing


By Reuters Staff
2 Min Read
WELLINGTON, Feb 9 (Reuters) - New Zealand’s debt level by the year 2034 is forecasted to be about NZ$60 billion ($43.3 billion) less than previously expected on the back of a strong recovery from the COVID-19 pandemic, the finance minister said on Tuesday.
New projections using the treasury’s fiscal strategy model show net debt now at 36.5% of GDP in 2034/35, Grant Robertson said in his 2021 Budget Policy Statement speech to business leaders in the capital Wellington.
“That represents about $60 billion less debt at the end of the projection period than at the pre-election update,” he said.
Projections in September last year showed net debt falling from a peak of about 56% of GDP in 2024 to 48% of GDP in 2034. ....

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