Half Year Economic and Fiscal Update 2021

As the government's lead economic and financial adviser, the Treasury forecasts the economic outlook for New Zealand and the Government's fiscal outlook. This Half Year Economic and Fiscal Update (Half Year Update) is part of a suite of documents we release as required by the Public Finance Act 1989.

This Half Year Update primarily outlines what the Treasury observes in our current economic and fiscal climate, what we might see in the future, and what risks we may face over the forecast period. This gives an indication of what the economy is most likely to do to inform decision-making.

This Half Year Update was published with the Budget Policy Statement 2022 which sets out the Budget priorities and wellbeing objectives that will guide the Government’s Budget decisions for 2022.