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Budget Deficit Shrinks Thanks to Strong Economy | Auckland News
New Zealand’s budget deficit is shrinking faster than expected, thanks to higher tax revenues and smarter spending — a win for Finance Minister Nicola Willis, who says the economy is rebounding. Despite global headwinds like the Middle East conflict, domestic drivers including lower oil prices, falling inflation, booming exports and tourism, and windfall profits from state-owned enterprises and the emissions trading scheme are fueling growth. Net debt is also lower than projected at $186 billion — or 41.3% of GDP. Final reports due in October are expected to show a dramatic improvement over…
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