New Zealand's OBEGALx Deficit Forecast Falls to NZ$6.8bn
Treasury sees the 2026/27 deficit shrinking from NZ$11.4bn forecast in May, with an NZ$4.0bn surplus pencilled in for 2028/29.
The Treasury's 29 September Pre-election Economic and Fiscal Update forecasts an OBEGALx deficit of NZ$6.8 billion for the year ending June 2027, compared with NZ$11.4 billion in May's Budget Update. The balance is forecast to improve to an NZ$0.8 billion deficit in 2027/28 and an NZ$4.0 billion surplus in 2028/29; May had projected a NZ$2.6 billion surplus for that year.
The update forecasts government borrowing requirements NZ$15.0 billion lower over the forecast period than in the May update. Treasury says these are projections; the 2025/26 fiscal results in the update are unaudited, with audited results due on 8 October.
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