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Government and the Economy

Budget surplus

The New Zealand general government (includes both local and central government) is one of 10 in the OECD to have had a budget surplus in 2004. Norway, with significant revenues from oil, had the highest budget surplus of any country, with New Zealand in second place. Occupying the last three places were Poland, Greece and Japan.

 

 General Government Financial Balances

as a percentage of nominal GDP, 2004

   Percent
 New Zealand  4.2
 OECD  -3.3

Net lender

At -0.4 percent of nominal Gross Domestic Product (GDP) in 2004, the net debt and interest payments of the New Zealand Government were the fourth-lowest of 26 OECD countries. The negative figure means the New Zealand Government is a net lender. In the same period, Norway, Korea, Luxembourg and Sweden also had governments that were net lenders. Norway’s recorded net debt and interest payments of -3.8 percent of nominal GDP was the lowest
of the 26 OECD countries.

 

 General Government Net Debt and Interest Payments

as a percentage of nominal GDP, 2004

   Percent
 OECD  1.9
 New Zealand  -0.4
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