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Following the release of New Zealand’s (NZ) Federal Budget, S&P Global Ratings is out with its take on it while lauding the South-Pacific island nation’s economic recovery.

Key takeaways

“New Zealand’s federal budget was consistent with its expectations.”

“The country was recovering quicker than most advanced economies, though warned debt levels would remain elevated for some time.”

“Given the pace of recovery, we believe the government’s credit metrics can withstand further negative shocks to the economy and its fiscal position at the current rating level.”

Related reads

NZD/USD: Recovery capped below 0.7200 after New Zealand Budget

NZ Budget: Sees 2021 GDP at +2.9% vs. HYEFU +1.5%

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