debt tagged posts

NZ Government Debt Keeps Growing

June 7, 2011 New Zealand Finance

24-02-2005The New Zealand government’s debt has grown even further over the month of April, now reaching NZD 71.6 billion.

The New Zealand Treasury has released the financial statements for the New Zealand government for the 10 months ending April 30th, which showed that the government’s debt has continued to grow. The statements, which were published May 10th, show that the government’s gross debts are now NZD 2.9 billion higher than previously forecasted, equivalent to approximately 4.2 percent above estimates. The debt increase was largely attributed to fluctuations in the value of the New Zealand dollar, which added approximately NZD 842 million to their value. An unexpected jump in the demand for government bonds has also increased debt levels by NZD 751 million.

The latest debt figure is N...

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