New Zealand Finance Minister warns of widening government deficit in 2024-25 due to recession and NZ$6.14bn forecast.

New Zealand Finance Minister, Nicola Willis, warns of a widening government deficit in the 2024-25 financial year due to a deteriorating economic outlook. The country is currently in a technical recession, with the 2024-25 operating deficit forecast to be NZ$6.14 billion, expected to increase. A plan to return the books to surplus and operating allowances for future budgets will be released next week.

May 23, 2024
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