New Zealand's Overall Balance (% of GDP): Net Lending/Borrowing Trends and Forecasts (1990-2029)

New Zealand's fiscal trends reflect effective economic policies and external shocks. The early 1990s saw significant deficits, peaking at -6.3% in 1992, followed by robust surpluses in the mid-2000s, reaching 5.1% in 2005. This was driven by strong growth and prudent fiscal management.

The global financial crisis and the pandemic reversed these gains, with deficits reaching -4.3% in 2020. Projections suggest a steady narrowing of deficits to -0.1% by 2029, reflecting ongoing recovery and fiscal responsibility.