Fiscal update: Surplus now seen in year to June 2030

Finance Minister Nicola Willis. (Image: NZME)

Tue, 16 Dec 2025

The Government’s books are once again tipped to be back in the black a year later than previously forecast.The Treasury’s Obegalx forecasts now show a $2.3 billion surplus in the year to June 30, 2030. The Government’s operating balance before gains and losses (Obegalx) excludes ACC’s revenue and expenses.According to Budget 2025 forecasts, Obegalx would have reached a surplus of $214 million in the year to 2029. The forecasts now show it reaching a deficit of $940m.Finance Minister Nicola Willis downplayed th...

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