New Zealand upgrades forecast for budget surpluses

FXstreet.com (Bali) - More positive news for the interest of the New Zealand Dollar, as the country just reported projections for a $86mn surplus in 2013/14, but most importantly, it raised forecasts for budget surpluses from 2014/15, now expecting NZ$1.7bn by 2015/16.

Further updating on economic estimates, New Zealand expects GDP to peak at 3.6% in 2015, according to its Treasury. Meanwhile, NZ finance minister English told a news conference that the government plans on repaying debt early, adding that the RBNZ is likely to raise rates in 2014.