New Zealand's Fiscal Budget to See NZ$11.87 Billion Deficit

New Zealand Minister of Finance Bill English unveiled that National Party’s first fiscal budget since taking power last year. English revealed a 2009-2010 budget deficit of NZ$11.87, more than that which was expected.

In his accompanying statement, the finance minister said that the economy would fall by 1.7% in the year through March 2010, but would expand 1.8% in the 12 months through 2011