New Zealand’s budget in brief
- Budget deficit will account for $NZ6.3B in 2012/13 and $NZ2B in 2013/14.
- GDP growth is seen at 2.3% in 2013/14 and 2.8% in 2014/15.
- Low interest rates, Canterbury rebuild, strong export commodity prices will contribute to growth.
- Government net debt is expected to peak at 28.7% of GDP in 2014/15.
- Unemployment is expected to drop to 6% in Q1 2014 and 5.9% Q1 in 2015.