New Zealand's budget deficit increased to $12.9 billion due to inflation and interest rates.

New Zealand's budget deficit has increased to $12.9 billion, up from a projected $11.1 billion, primarily due to rising expenses linked to inflation and interest rates. Finance Minister Nicola Willis acknowledged the government's financial struggles, attributing them partly to the previous administration. The coalition government aims to restore budget surplus and reduce debt, with upcoming fiscal updates planned for December 17.

October 10, 2024
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