HYEFU 2020 Announcements

Changes in Forecasts NZ$b 60 50 50 Source: The Treasury 40 40 30 20 10 10 2006 2007 2008 2009 Dec-19 I T Forecast 60% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 ■May-20 Sep-20 50% 40% 30% 20% Dec-20 -NZGBs as % GDP (rhs) 10% 0%

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