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Budgets and forecasts

As New Zealand's lead advisor to the Government on economic and financial policy, the Treasury plays a critical role in helping the Government set budgets and in preparing forecasts.


The Treasury helps in the preparation of the government's annual Budget by:

  • advising the Minister of Finance on Budget policy
  • compiling and processing budget initiative proposals from Vote Ministers, and
  • preparing budget documents such as the Estimates, the Budget Economic and Fiscal Update and the Fiscal Strategy.

The last Budget was released by the Minister of Finance, Hon Grant Robertson, on 14 May 2020.

Browse a list of current and past budgets.


The Treasury's forecasts for Government finances (or fiscal forecasts) are published at least twice a year in Economic and Fiscal Updates (EFUs).

The most recent published forecast is the Budget Economic and Fiscal Update 2020 (BEFU) published on 14 May 2020.

The next forecast will be the Pre-election Economic and Fiscal Update 2020 (Pre-EFU) to be published on 20 August 2020.

Last updated: 
Thursday, 14 May 2020