Kiwis are being told not to panic, as national debt edges toward the trillion-dollar mark

Collective debt's risen to 870-billion dollars for the year to May - up 5.4-percent on last year's 830-billion.

However, the rate of borrowing's eased in the past two years, as the Government's trying to rein it in.

ANZ Chief Economist Sharon Zollner says these numbers don't tell us a huge amount.

She says if they'd be more meaningful if considered relative to income or wealth.