Government ekes out six-month surplus of $9M as consumption drives up GST take

Wed, 15 Feb 2017

By Jonathan Underhill Feb. 16 (BusinessDesk) - The New Zealand government eked out a tiny surplus in the first six months of the fiscal year as growth in domestic consumption lifted the goods and services tax take, while uncertainties over the Kaikoura earthquake costs meant expenses were less than expected. The operating balance before gains and losses was a surplus of $9 million in the six months ended Dec. 31, compared with a forecast deficit of $666 million in the Treasury’s Half Year Fiscal and Economic Update (HYEFU). That was large...

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