New Zealand sees 2025/26 operating balance before gains and losses at NZD -15.06bln (HYEFU -16.93B)

Sees 2026/27 operating balance before gains and losses at NZD -14.09bln (HYEFU -12.99B) Sees 2025/26 cash balance at NZD -9.31bln (HYEFU -14.80B) Sees 2026/27 GDP growth 2.3% (HYEFU 3.4%) Sees Net Debt/GDP 42.4% (HYEFU 43.3%) New Zealand Finance Minister Willis says will introduce prudential levy on banks, non-bank deposit takers, insurers and other financial market participants, while new prudential levy to recover around NZD 209mln over the next four years. NZ DMO plans to issue NZD 34bln worth of bonds in 2026/27, matches December forecast, while it plans gross bond issuance for four years to June 30 2030 at NZD 124bln (prev. NZZ 130bln forecast in December)  Treasury sees inflation peaking at 4.0% in Q2 2026, while New Zealand expects returning to operating balance before gains, losses surplus in 2029/2030.