HYEFU 2020 Announcements
Summary of Forecasts
2020
2021
2022
2023
2024
2025
June years
Actual
Forecast
Forecast
Forecast
Forecast
Forecast
Real production GDP (annual average % change)
-2.1
1.5
2.6
3.7
3.8
3.2
Unemployment rate (June quarter)
4.0
6.6
6.8
5.7
4.7
4.0
CPI inflation (annual % change)
1.5
1.4
1.2
1.4
1.8
2.1
Current account (annual, % of GDP)
-1.9
-2.8
-3.8
-3.4
-3.2
-3.2
Fiscal measures ($billions)
Core Crown tax revenue
85.1
88.3
89.1
96.9
102.5
108.8
Core Crown expenses
108.8
114.2
109.1
112.0
115.3
118.7
Total Crown operating balance before gains and losses
-23.1
-21.6
-16.4
-10.3
-7.5
-4.2
Core Crown residual cash
-23.7
-40.2
-36.3
-23.7
-5.5
3.9
Net core Crown debt¹
83.4
128.6
166.2
189.1
194.2
190.0
as a percentage of GDP
Net worth attributable to the Crown
26.4%
110.3
39.7%
49.1%
52.6%
50.7%
46.9%
83.9
69.2
63.0
60.1
61.0
Note: 1 Net core Crown debt, excluding the New Zealand Superannuation Fund and advances (including lending under the Funding for
Lending Programme - for more details see page 40 in the 2020 Half Year Economic and Fiscal Update).
2 The fiscal forecasts were finalised 30 November 2020. The economic forecasts were finalised on 13 November 2020.
Source: Stats NZ, The TreasuryView entire presentation