New Zealand Treasury – Surpluses are rising and debt is falling

Government surpluses are rising and debt as a percentage of GDP is falling said New Zealand Treasury after it annonunced a rise in budget surplus.

The Treasury announced a surplus of NZD 1.8 billion for the year end to June 30. The actual figure was higher than previous year’s surplus figure of NZD 414 million and above forecast of NZD 176 million.

This gives choice about repaying debt and cutting taxes, said Finance Minister Bill English.