Following the release of New Zealand’s (NZ) Federal Budget, S&P Global Ratings is out with its take on it while lauding the South-Pacific island nation’s economic recovery.
“New Zealand's federal budget was consistent with its expectations.”
“The country was recovering quicker than most advanced economies, though warned debt levels would remain elevated for some time.”
"Given the pace of recovery, we believe the government's credit metrics can withstand further negative shocks to the economy and its fiscal position at the current rating level.”
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