Government pushes back expected surplus

Returning to surplus remains an important goal, says Grant Robertson. (Image: Getty)

Thu, 18 May 2023

The government now expects to balance the books a year later than anticipated. “The costs of responding to the cyclone and more persistent inflation are the cause of this,” said finance minister Grant Robertson. “Returning to surplus remains an important goal,” he said. The operating balance before gains and losses (Obegal) is expected to return to a surplus of $600 million in the June 2026 year.In last December’s half-year update, the Treasury forecast a surplus of $1.7 billion in the 2025 June year...

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