Given the pace of recovery, we believe the government's credit metrics can withstand further negative shocks to the economy and its fiscal position at the current rating level.
SYDNEY: S&P Global ratings on Thursday said New Zealand's federal budget was consistent with its expectations and that the country was recovering quicker than most advanced economies, though warned debt levels would remain elevated for some time.
"Given the pace of recovery, we believe the government's credit metrics can withstand further negative shocks to the economy and its fiscal position at the current rating level," S&P said in a statement.
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