The incoming Governor of the Central Bank has told the Finance Minister he 'agrees in full' with the findings of a report into his handling of a New Zealand budget leak.

However, Gabriel Makhlouf said in hindsight he "could have described the incident more clearly".

Mr Makhlouf, who's due to take up his Irish role next month, is the former head of the New Zealand Treasury.

Earlier this year, an investigation was launched into his actions and public statements about the causes of 'unauthorised access' to budget material.

The scandal emerged after the country's National party revealed it had confidential budget details - two days before the details were officially announced.

Mr Makhlouf initially said the Treasury alerted police that his department's systems had been "deliberately and systematically hacked".

However, it subsequently emerged that somebody had in fact exploited the main Treasury website's search tool - meaning specific searches could show snippets of embargoed budget details.

Those responsible are not believed to have acted unlawfully.

An investigation into Mr Makhlouf's actions by New Zealand's State Services Commissioner found Mr Makhlouf acted in good faith and without political bias.

However, it criticised him for "not acting reasonably" in some of his media comments - including use of the phrase "deliberately and systematically hacked".

Commissioner Peter Hughes said: “I have concluded that Mr Makhlouf failed to take personal responsibility for the Treasury security failure and his subsequent handling of the situation fell well short of my expectations.

"Mr Makhlouf is accountable for that and I’m calling it out.”

In a letter to Finance Minister Paschal Donohoe last month, Mr Makhlouf said the investigation into his actions was conducted "thoroughly and fairly".

He wrote: "I have reflected on [Deputy State Services Commissioner] Ombler's conclusions and agree with them in full.

"In hindsight, I accept that I could have described the incident more clearly and with a different emphasis. I was pleased that my honesty, integrity and political neutrality are not in question."

He added that he was looking forward to his now role in the Central Bank "and having the honour of serving the Irish people".