The Government is confident it's on the right track to deliver, despite tough economic times ahead.

Net debt is $3.5 billion less than expected, at $70.5 billion in the seven month period to January 31.

Finance Minister Grant Robertson told Mike Hosking a large number of countries are expected to end up in recession.

He believes if New Zealand does, it'll be shallow and the country will come out strong.

Debt to GDP is slightly under 19 percent, less than other countries.

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