Treasury’s Economic Forecasts
Treasury’s latest economic forecasts indicate a deepening deficit, projected to increase from $14.0 billion in the year ending June 2025 to $16.9 billion in 2025/26, before narrowing to $60 million by 2029/30. While this reflects an improvement from previous forecasts, it still falls short of National’s commitment to achieve a surplus by 2026/27. The economy’s slow recovery is attributed to the Reserve Bank’s high interest rates aimed at curbing inflation, which has led to a recession.
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