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New Zealand finmin says govt debt will hit 26 pct of GDP
March 26, 2014 / 8:36 AM / 4 years ago

New Zealand finmin says govt debt will hit 26 pct of GDP

March 26 (Reuters) - New Zealand’s government debt will reach 26 percent of the country’s gross domestic product and then start to fall in two years’ time, Finance Minister Bill English said on Wednesday.

English, speaking at a Credit Suisse investment conference in the Asia financial centre, also said he was confident the economy had become more resilient despite recent headwinds.

He added that he expected the country to generate a budget surplus of 2-3 percent of GDP in two to three years.

Reporting By Saikat Chatterjee and Twinnie Siu; Editing by Jacqueline Wong

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