New Zealand budget: sees 2014/15 budget deficit of NZD 648m

• NZ Treasury sees inflation reaching 2% in 4Q 2016
• Treasury sees jobless rate falling to 4.7% by 1Q 2017
• Fin Min English sees option of modest tax cuts in 2017
• English sees GDP growth averaging 2.8% over next 4 years
• Forecasts GDP growth of 2.9% in year through March 2016
• Sees 2015-16 bond sales NZ$1b higher than forecast in December
• NZ increases 2015-16 bond program to NZ$1b, plans 2033 bond
• Projects 2016-17 budget surplus of NZ$1.48b
• Projects 2014-15 budget deficit of NZ$684m
• Cuts budget surplus forecasts
• Projects 2015-16 budget surplus of NZ$176m

Headlines on Bloomberg.