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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 Half Year Economic and Fiscal Update 2020 published on 16 December 2020.

The next forecast will be the Budget Economic and Fiscal Update 2021 to be published on a date yet to be announced.

Last updated: 
Tuesday, 9 February 2021