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No more zero budgets: Key

The government is over its financial problems and isn't likely to deliver another zero budget in May, Prime Minister John Key says.

After delivering his upbeat state of the nation speech in Auckland on Friday, Mr Key told reporters four years of hard work had put the government back on track for a surplus in 2014.

"I don't think we have a fiscal problem any more," he said.

"The issue that the country faces is ultimately a productivity and growth issue, and how we deliver faster growth."

The government's last three budgets have been zero budgets - no new spending.

"I don't think you're going to see National delivering a zero budget in 2013," he said.

"Anything's possible but I think that's highly unlikely."