NZ FinMin Robertson: Budget will support the economy while being cautious about debt

Dhwani Mehta FXStreet

“The Budget will be a "Covid" Budget, in the sense of dealing with the ongoing effects of the pandemic. But as well as being a Covid Budget, Budget 2021 will also be a recovery and wellbeing budget,” New Zealand's Deputy Prime Minister and Finance Minister Grant Robertson said in his second-major pre-Budget speech early Monday.

Additional quotes

“Economic recovery so far gives the government more options.”

“There is scope to keep a lid on NZ higher debt levels, lower the debt once recovery is secure.”

“Not indicating any austerity measures to lower debt at this stage.”

Market reaction

Despite the encouraging comments from Robertson, NZD/USD retreats towards 0.7250, having faced rejection once again just shy of the 0.73 mark.

The spot was last seen trading at 0.7273, almost unchanged on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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