𝔽𝕚𝕥𝕔𝕙 𝕒𝕗𝕗𝕚𝕣𝕞𝕤 ℕℤ 𝔸𝔸+ 𝕔𝕣𝕖𝕕𝕚𝕥 𝕣𝕒𝕥𝕚𝕟𝕘

𝕋𝕙𝕖 𝔾𝕠𝕧𝕖𝕣𝕟𝕞𝕖𝕟𝕥’𝕤 𝕡𝕣𝕦𝕕𝕖𝕟𝕥 𝕒𝕟𝕕 𝕣𝕖𝕤𝕡𝕠𝕟𝕤𝕚𝕓𝕝𝕖 𝕗𝕚𝕟𝕒𝕟𝕔𝕚𝕒𝕝 𝕞𝕒𝕟𝕒𝕘𝕖𝕞𝕖𝕟𝕥 𝕙𝕒𝕤 𝕓𝕖𝕖𝕟 𝕒𝕔𝕜𝕟𝕠𝕨𝕝𝕖𝕕𝕘𝕖𝕕 𝕓𝕪 𝕥𝕙𝕖 𝕔𝕣𝕖𝕕𝕚𝕥 𝕣𝕒𝕥𝕚𝕟𝕘 𝕒𝕘𝕖𝕟𝕔𝕪 𝔽𝕚𝕥𝕔𝕙.

F

itch affirmed New Zealand’s long term foreign and local currency ratings at AA+ with a stable outlook. It follows Moody’s annual credit analysis affirming a stable outlook on New Zealand’s local currency and foreign currency ratings at Aaa. 

“This is further endorsement of the Government’s financial and economic management in a difficult and uncertain global environment,” Grant Robertson said. 

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“Fitch praised the Government’s fiscal policies, saying the rating reflected the Government’s robust governance standards and policy framework and our commitment to return to surplus, and lower debt in the medium term.

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Our net debt as a percentage of GDP remains lower than many of our international peers.

“The Government has continued to take action to consolidate spending, which Fitch said is expected to drive a sustained decline in the deficit. Our ongoing savings and efficiency exercise has found almost $4 billion in savings over the forecast period to help ease inflation pressures and meet our fiscal rules of returning to surplus over the forecast period and keep debt levels under the limit of 30 percent of GDP.

“Fitch noted that the government’s strong track record of prudent financial management, and that our strong policy institutions and a sound macroeconomic framework enhanced New Zealand’s resilience to economic and financial shocks.”

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The credit rating also reflected Fitch’s long-standing views on the issue of high household debt. 

“We are committed to our plan to meet our balanced and responsible fiscal goals, make our economy stronger and more resilient and support New Zealanders with targeted cost of living relief that doesn’t add to inflation pressures,” Grant Robertson said.

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