Govt deficit shrank on stronger-than-expected economy

Finance minister Grant Robertson said June feels like a long time ago. (Image: Getty)

Tue, 12 Oct 2021

The government's operating deficit for the year ended June came in at less than a third of forecast and only a fifth of the previous year's deficit.The deficit for the year before asset gains and losses came in at $4.6 billion, down from the budget forecast of $15.1b and last year's deficit of $23.1b.The deficit fell to 1.3% of gross domestic product (GDP) in the latest year from 7.3% in the 2020 financial year.Finance minister Grant Robertson said the better-than-forecast result reflected a stronger-than-expected economy, although...

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