New Zealand credit rating affirmed at AA+ by S&P

S&P credit rating New Zealand economy Nicola Willis AA+ rating fiscal policy

New Zealand Finance Minister Nicola Willis has welcomed S&P Global Ratings’ decision to affirm the country’s AA+ foreign currency credit rating with a stable outlook. The rating agency forecasts that the New Zealand economy will grow by 2.5% in the 12 months leading to June next year.

S&P noted that New Zealand’s improving economic outlook and projected growth are expected to help reduce the government deficit over the next three years. The agency highlighted several national strengths, including monetary policy flexibility, a wealthy economy, relatively low net debt, and strong institutions, which serve to offset weaknesses related to fiscal deficits and external imbalances.

Minister Willis stated that the affirmation serves as a vote of confidence in the government’s fiscal management. Current government efforts to revitalize the economy and reduce the deficit include reducing income taxes, streamlining the public service, reforming the local government sector, and reversing bans on offshore oil and gas exploration to incentivize foreign investment.

Entities

New Zealand · New Zealand Government · Nicola Willis · S&P Global Ratings

Claims

What the coverage asserts, and how many sources carry each claim.

[● 3 SOURCES] Finance Minister Nicola Willis stated New Zealand is one of only 18 economies with an AA+ rating or better. insidegovernment.co.nz · business.scoop.co.nz · livenews.co.nz
[● 3 SOURCES] S&P forecasts the New Zealand economy will grow by 2.5% in the 12 months leading to June next year. insidegovernment.co.nz · business.scoop.co.nz · livenews.co.nz
[● 3 SOURCES] S&P expects stronger economic growth to assist in reducing the government deficit over the next three years. insidegovernment.co.nz · business.scoop.co.nz · livenews.co.nz
[● 3 SOURCES] S&P cited New Zealand’s monetary policy flexibility, wealth, low net debt, and strong institutions as key strengths. insidegovernment.co.nz · business.scoop.co.nz · livenews.co.nz
[● 3 SOURCES] Government actions to reduce the deficit include reducing income taxes, streamlining public services, and reversing offshore oil and gas exploration bans. insidegovernment.co.nz · business.scoop.co.nz · livenews.co.nz
[● 3 SOURCES] S&P affirmed New Zealand’s AA+ foreign currency credit rating with a stable outlook. insidegovernment.co.nz · business.scoop.co.nz · livenews.co.nz

Sources

India’s BBB sovereign rating puts fiscal repair ahead of growth [www.policycircle.org]

11 days ago

Finance Minister welcomes foreign currency credit rating - Inside Government NZ [insidegovernment.co.nz]

12 days ago

Business. Scoop » Stable Credit Rating A Vote Of Confidence [business.scoop.co.nz]

12 days ago

Stable credit rating a vote of confidence [livenews.co.nz]

12 days ago

Kenya’s public debt restructure sparks default fears [www.businessdailyafrica.com]

12 days ago