New Zealand FinMin Robertson: Should spend cautiously, fiscal rules expected
|New Zealand’s Finance Minister Grant Robertson told a news conference on Tuesday, the government should monitor its spending and hinted at the introduction of new fiscal rules in the budget next month.
Key quotes
"It's really important that we use fiscal policy sensibly to be able to make sure New Zealand not only keeps a lid on debt but that we invest in the right things."
“New fiscal rules would be introduced at this year's budget in May after some fiscal targets were previously suspended as the government responded to the COVID-19 pandemic.”
"It is important that we don't cut our nose off to spite our face and take away funding.”
Market reaction
NZD/USD was last seen trading at 0.6735, almost unchanged on the day.
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