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New Zealand's finance minister reports improved fiscal health with deficit turning to surplus and debt peaking at 46.9% of GDP.
On 17 December 2025, New Zealand’s Minister of Finance Nicola Willis presented updated fiscal forecasts showing core Crown expenses falling to 30.5% of GDP, the OBEGALx deficit turning to surplus, and net debt peaking at 46.9% of GDP before declining, attributing the improvement to restored fiscal discipline.
She confirmed support for the Treasury’s 50% GDP debt ceiling, while acknowledging alternative views from economist Craig Renney and Green Party modeling suggesting higher sustainable debt levels.
Prime Minister Christopher Luxon defended the government’s economic record, citing near-3% growth, job creation, and housing affordability gains, despite revised forecasts and ongoing borrowing.
The Secondary Legislation Confirmation Bill (No 3) passed with cross-party support, confirming previously enacted laws.
El ministro de finanzas de Nueva Zelanda informa de una mejora de la salud fiscal, con un déficit que se convierte en superávit y una deuda que alcanza un máximo del 46,9% del PIB.