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Economic and fiscal update

Half Year Economic and Fiscal Update 2022

Issue date: 
Wednesday, 14 December 2022
Corporate author: 
View point: 
Document Date: 
Wednesday, 14 Dec 2022
Publication category: 
ISBN: 978-1-99-004564-6 (print), ISBN: 978-1-99-004565-3 (online)

Formats and related files

Executive Summary

The global and Aotearoa New Zealand economies are facing multiple challenges that are expected to lead to slower growth in the period ahead.

Accessible version

Only the Executive Summary has been prepared in HTML. If you require a full accessible version, please contact [email protected] and cite Half Year Economic and Fiscal Update 2022 as a reference.

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 2023 which sets out the Budget priorities and wellbeing objectives that will guide the Government’s Budget decisions for 2023.

Table of contents

  • Statement of Responsibility
  • Executive Summary
  • Economic Outlook
  • Fiscal Outlook
  • Risks to the Economic and Fiscal Forecasts
  • Forecast Financial Statements
  • Core Crown Expense Tables
  • Glossary of Terms
  • Time Series of Fiscal and Economic Indicators
Last updated: 
Thursday, 22 December 2022