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NZ FinMin: New Zealand faces bigger 2014/15 budget deficit


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FXStreet (Bali) – New Zealand finance minister English spoke to the NZ Chamber of Commerce a little earlier, with headlines crossing the wires via Reuters, noting that New Zealand faces bigger 2014/15 budget deficit, smaller 2015/16 surplus due lower tax take.

Additional headlines


Low inflation hitting the NZ government’s tax take, expected to be down NZ$4.5 bln over next four yrs


Treasury expects nominal GDP to 2019 to be about 1.5 pct below forecast on low inflation


Low inflation sustaining stronger growth and keeping rates lower for longer


To keep NZ$1 bln new spending allowance in each of next two years despite lower tax take