Photo: New Zealand HeraldNew Zealand's debt levels are climbing at close to $10 billion a month as new Treasury figures reveal the brunt of the response to Covid-19. Today Treasury released the Government's financial statements for the 10 months to April 30 which revealed a deficit of $12.8b. As a share of gross domestic product, net debt climbed from 19.2% at the end of February, to 25.3% at the end of April. "The impact of global Covid-19 pandemic is clear in the accounts. Even though the [operating balance before gains and loses] was better than expected, it showed a deficit of $12.78 billion.

Source: Otago Daily Times June 09, 2020 22:18 UTC